Nigerian Equities Market Gains N1.908 Trillion Opening Week

The Nigerian equities market commenced the week positively, appreciating by N1.908 trillion, which resulted in a market capitalization of listed equities increasing by 1.20 percent to N160.421 trillion from N158.513 trillion the previous day. The NGX All Share Index rose by 2,956.15 basis points, reaching 248,529.75 points from 245,573.60 points traded on Friday.

The market breadth was negative, with 23 advancers against 36 decliners. However, gains in stocks such as Airtel Africa, GTCO Plc, Access Holdings Company, and Zenith Bank outweighed losses in others like Ava Capital and Caverton Business Solutions, leading to a market close higher by 59.73 percent.

FTG Insurance led the gainers with a 10 percent increase, closing at N2.86 per unit, while Ava Capital topped the losers chart, dropping by 10 percent to close at N9.90 per unit.