The Nigerian equities market rebounded strongly at the start of the week after several consecutive sessions of losses, gaining N1.518 trillion as renewed buying interest lifted investor sentiment across the bourse.
The NGX trading data on Monday shows the All-Share Index gained 2,277.92 points, representing a 0.97 per cent increase to close at 238,219.19 points, while market capitalisation rose by N1.518 trillion to close at N152.845 trillion.
The upturn was driven by price appreciation in large and medium-capitalised stocks, including MTN Nigeria Communications, Guaranty Trust Holding Company, Zenith Bank, FBN Holdings, and Lafarge Africa.
Despite the market gain, market breadth was broadly negative as 35 decliners outpaced 17 advancers.
FBN Holdings and GTCO emerged as the highest price gainers, rising by 10 per cent each to close at N60.50 and N127.10, respectively, while International Energy Insurance followed with a 9.88 per cent gain to close at N5.56 per share.
McNichols
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