Equities trading on the Nigerian Exchange Limited opened the week on a strong note as investors gained N307bn in market value on Monday, reflecting improved appetite for stocks across key sectors of the market.

The market capitalisation rose to N56.52tn at the close of trading from N56.21tn recorded on Friday, representing a 0.55 per cent increase. Similarly, the All-Share Index advanced by 549.94 points to settle at 100,299.48 points, up from 99,749.54 points recorded at the previous session.

Gains in the share prices of MEYER, UPDC Real Estate Investment Trust, Beta Glass, Vitafoam, and Skyway Aviation Handling Company, among others, contributed to the positive sentiment that lifted the market.

A total of 50 stocks appreciated in price, surpassing the 17 that recorded losses.

MEYER Plc emerged as the highest price gainer, rising by 10 per cent to close at N8.80 per share. UPDCREIT followed closely with a 10 per cent increase, ending the day at N6.60. Beta Glass appreciated by 9.98 per cent to close at N146.05, while TIP rose by 9.95 per cent to N6.08. Vitafoam advanced by 9.94 per cent, closing at N55.85 per share.

Skyway Aviation saw a 9.92 per cent gain to close at N55.40, contributing to the day’s bullish momentum.

On the losers’ table, DEAP Capital led with a 10 per cent decline, dropping to N1.08. Veritas Kapital followed with a 9.09 per cent loss to settle at N1.00. Linkage Assurance fell by 6.61 per cent to N1.13, while Africa Prudential dropped by 5.60 per cent to close at N16.00. UPDC declined by 4.46 per cent to end trading at N3.00, while Aradel Holdings recorded a 4.19 per cent dip to N503.00.

In terms of market activity, a total of 542.96m shares worth N10.58bn were exchanged in 8,298 deals. This marked an improvement over Friday’s turnover of 367.57m shares valued at N7.44bn across 7,427 deals.

Several key sectoral indices also posted notable gains. The Top 30 Index rose by 0.55 per cent, translating to a 2.39 per cent gain over one week and a 5.58 per cent year-to-date. The Banking Index led sectoral advances with a 2.12 per cent rise on the day, despite a one-week decline of 0.92 per cent; the index is up 5.91 per cent so far this year.

The Consumer Goods Index appreciated by 2.11 per cent, pushing its one-week gain to 6.91 per cent and its year-to-date growth to 26.29 per cent. The Pension Index climbed by 1.08 per cent, with one-week and year-to-date gains of 3.48 per cent and 13.25 per cent, respectively.

Also, the Main Board Index rose by 0.74 per cent on the day, with a one-week return of 2.41 per cent and a 6.52 per cent gain year-to-date. The Premium Index gained 0.31 per cent, with corresponding one-week and year-to-date increases of 4.37 per cent and 6.54 per cent, respectively.

The PUNCH reported that the Nigerian Exchange Limited sustained its bullish run on Tuesday, as investors gained a total of N1.05tn following renewed buy interest in blue-chip stocks across major sectors.