46 investors push Nigerian stock market to N279bn gain

46 investors have propelled the Nigerian stock market to a N279 billion gain on Monday.

This is the case with the market capitalisation, which opened at N74.533 trillion and added 0.37 percent to close at N74.812 trillion.

Also, the All-Share Index gained 0.37 percent, or 441.43 points, to settle at 118,579.65 against 118,138.22 recorded on Friday.

Consequently, market breadth closed positive with 46 gainers and 22 losers.

In a detailed analysis, Beta Glass led the gainers’ table, increasing by 10 percent, settling at N303.60, while Champion Breweries also rose by 10 percent, finishing at N9.02 per share. Also, FTN Cocoa Processors soared by 10 percent, ending the session at N3.08, and Neimeth International Pharmaceuticals gained by 10 percent, closing at N4.07 per share.

Also, Presco Plc climbed by 10 percent, settling at N1,210 per share.

Meanwhile, on the flip side, Julius Berger fell by 7.48 percent, closing at N117.50, while Chams Holding dropped by 5.09 percent, settling at N2.05 per share.

Similarly, Secure Electronic Technology declined by five percent, finishing at 57k, and Multiverse Mining shed 4.66 percent, ending the session at N9.20 per share.

Similarly, Red Star Express lost 3.85 percent, closing at N7.50 per share.

In the framework of analysis, a total of 653.66 million shares worth N21.33 billion were exchanged across 22,206 transactions. This is compared to 522.81 million shares worth N19.68 billion that were traded across 17,706 deals.

Accordingly, transactions in the shares of Fidelity Bank topped the activity chart with 141.71 million shares worth N2.66 billion. Also, Zenith Bank followed with 46.26 million shares valued at N2.35 billion, while Nigerian Breweries transacted 38.09 million shares worth N2.21 billion.

Similarly, FTN Cocoa Processors traded 37.98 million shares valued at N115.90 million, while Access Corporation sold 37.93 million shares worth N843.74 million.