Nigerian Stock Market Gains N147bn with Key Stocks Rising

The Nigerian stock market opened the week positively on Monday, recording a gain of N147 billion in market capitalization, which rose to N126.583 trillion. This increase, driven by sustained demand for stocks, saw the share index gain 228.83 points, closing at 197,196.98 compared to the previous session's close of 196,968.15.

Year-to-date returns improved to 26.72 percent. Despite this positive rally, the market breadth closed negatively with 43 losers and 27 gainers.

Aluminium Extrusion Industries led the losers with a 10 percent drop, finishing at N13.95, followed by SCOA at a 9.90 percent decline to N30.95, and RT Brisco down by 9.87 percent to N10.87 per share. On the gainers' side, Conoil, Legend Internet, and Omatek led with a 10 percent increase, closing at N185.90, N7.04, and N2.42 per share, respectively.

The NGX Group increased by 9.97 percent to settle at N166, while Oando gained 9.96 percent, finishing at N54.65 per share. Market activity showed a total volume trade of 762.53 million shares valued at N31.23 billion across 86,488 transactions.