Stock Market open with bullish surge

The stock market started the week bullish on Monday, as performance indices climbed by 0.79 per cent.

Specifically, market capitalisation on the Nigerian Exchange Ltd. rose by N540 billion. It increased from N68.751 trillion last Friday to N69.291 trillion.

The All-Share Index gained 856.31 points or 0.79 per cent to close at 109,884.93, up from 109,028.62.

The positive trend followed increased buying interest in medium and large-cap stocks, including Aradel Holdings, University Press, ABC Transport, Linkage Assurance, and 29 others.

Market breadth ended positive with 33 gainers and 31 losers.

Aradel Holdings led the gainers, rising 9.98 per cent to close at N505.90 per share.

University Press increased by 9.86 per cent to finish at N4.79 per share.

ABC Transport rose 8.43 per cent to close at N2.70, while Linkage Assurance gained 8.16 per cent to end at N1.59 per share.

C&I Leasing advanced by 7.32 per cent, finishing the session at N4.40 per share.

On the losing side, Tripple Gee declined by 10 per cent, ending at N2.07 per share.

MRS fell by 9.97 per cent to close at N114.80 per share.

Chellaram dropped by 9.96 per cent to end at N10.58, while U H Real Estate fell 9.95 per cent to N45.70.

Industry and Medical Gases also declined by 9.91 per cent, ending the session at N35.90 per share.

A total of 414.51 million shares worth N11.094 billion were exchanged across 19,775 deals.

This was lower than the previous session’s 637.54 million shares worth N18.122 billion across 15,927 deals.

Fidelity Bank led trading with 46.77 million shares valued at N855.42 million.

Custodian Investment followed with 37.16 million shares worth N736.18 million.

Access Corporation traded 35.93 million shares worth N783.69 million.

Guaranty Trust Holding Company moved 24.95 million shares worth N1.74 billion.

Zenith Bank transacted 17.94 million shares valued at N862.21 million.