Market capitalisation gains N5.1trn to cross N120trn mark  

The Nigerian equities market sustained its bullish momentum on Monday, as the market capitalisation rose beyond N122 trillion, as investors gain N5.103 trillion in a historic repricing rally.

The All-Share Index (ASI) gained by 7,949.36 points, representing a growth of 4.36 per cent to close at 190,262.44 points. Also, market capitalisation gained N5.103 trillion to close at N122.130 trillion.

Market breadth was positive, with 54 advancing stocks outweighing 28 declining counters. ABC Transports, Beta Glass, Ikeja Hotels, McNichols, Oando, Jaiz Bank, Aradel Holdings and Zichis Agro Allied Industries recorded the highest price gain of 10 per cent each to close at N8.25, N453.20, N41.80, N8.47, N44.00, N9.13, N1, 096.70 and N111.88 respectively, per share.

MTNN followed with a gain of 9.99 per cent to close at N779.70, while AXA Mansard Insurance up by 9.97 per cent to close at N16.99, per share.

On the other hand, R.T. Briscoe led the losers’ chart by 9.99 per cent to close at N15.68, per share. DEAP Capital Management & Trust followed with a decline of 9.91 per cent to close at N7.64, while Caverton Offshore Support Group shed 9.62 per cent to close at N7.05, per share.

Guinea Insurance depreciated by 9.27 per cent to close at N1.37, while Tantalizers declined by 8.11 per cent to close at N5.10, per share.

Also, the total volume traded up by 13.46 per cent to 1.076 billion units, valued at N64.026 billion, and exchanged in 64,821 deals. Transactions in the shares of Access Holdings topped the activity chart with 86.725 million shares valued at N2.259 billion. Oando followed with 73.496 million shares worth N3.186 billion, while Zenith Bank traded 69.281 million shares valued at N5.934 billion.

Mutual Benefits Assurance traded 67.101 million shares valued at N289.113 million, while Japaul Gold & Ventures sold 49.172 million shares worth N135.594 million.