Market capitalization increased by N3.2tr as the stock exchange boomed

Investors in the Nigerian equity market gained N3.2 trillion at the close of trading on Monday to continue its recovery.

This follows a surge in the prices of shares such as Livestock, Intenegins and RT Briscoe on the stock exchange floor.

The benchmark All-Share Index (ASI) index increased to 250,481.42 points from 244,670.65 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization jumped to N160.2 trillion from N157 trillion recorded by the exchange on Friday.

Market breadth was positive, with 50 stocks advancing, 29 declining, and 69 unchanged in 94,834 transactions.

A total of 1,485,876,717 shares were traded worth N68.4 billion.

Livestock, Intenegins and RT Briscoe led the gainers chart, with growth of 10% each, share prices closed at N8.80, N2.86 and N16.50 per share, up from N8.00, N2.60 and N15.00 per share.

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Prestige, UPL and Tantalizer led the rest of the price declines, with falls of 10%, 9.09% and 7.69% respectively, closing at N1.44, N4.00 and N4.20 per share, down from N1.60, N4.40 and N4.55 per share respectively.

On the volume index, Veritas Kapital led trading with 194 million shares in 491 transactions, followed by Access Holding which traded 172 million shares in 3,766 transactions.

First HoldCo traded 131 million shares in 1,552 transactions.

On the value index, MTNN traded shares worth N12.3 billion in 9,128 transactions, followed by Dangote Cement which traded equities worth N9.7 billion in 1,552 transactions.

Dangote Cement Bank traded shares worth N5.3 billion in 5,190 transactions.

By: Babajide Okeowo