The Nigerian equity market started the week on a positive note, with a total of 510,569,320 shares traded in 14,611 deals, valued at N13.25bn.

The benchmark All-Share Index increased by 134.18 points, or 0.13 per cent, closing at 104,630.30.

This represents a 56 per cent decline in volume and a 13 per cent decrease in turnover compared to the previous trading day. Despite this, the market capitalisation of the Nigerian Exchange Limited increased, closing at N64.8tn.

A total of 124 listed equities participated in the day’s trading, with 21 gainers and 35 losers. Presco led the gainers, recording a 10 per cent increase in its share price, closing at N643.50 per share. Other notable gainers included Beta Glass Company (+10 per cent, N78.65), Okomu Oil Palm (+9.99 per cent, N537.20), and Northern Nigeria Flour Mills (+9.98 per cent, N66.65).

On the losing side, University Press saw the highest decline, shedding 10 per cent to close at N5.04 per share. Other losers included Omatek Ventures (-9.88 per cent, N0.73), SCOA Nigeria (-9.83 per cent, N3.67), and Lasaco Assurance (-8.33 per cent, N2.75). Despite the presence of several losers, the overall market sentiment remained positive.

FBN Holdings recorded the highest trading volume, with 84 million shares changing hands, followed by Zenith Bank with 54.5 million, Universal Insurance Company with 32.6 million, and United Bank for Africa at 31.6 million. These stocks were among the most actively traded on the day.

The market indices showed positive growth as well. This marks a one-week gain of 0.2 per cent, a four-week gain of 0.95 per cent, and an overall year-to-date increase of 1.66 per cent. Other indices that performed well include the Top 30 Index, the Insurance Index, and the Main Board Index.

The PUNCH reported that the Nigerian equity market saw growth, gaining N1.1tn in just one week, as the All-Share Index closed at 104,496.12 and market capitalisation rose to N64.709tn.