Monday’s N323 billion increase in the equity market was fueled by gains made by Access Holding, Flour Mills Nigeria, Total Nigeria, and 27 other companies.
The market capitalisation and the All Share index increased by 0.58 percent at the end of trade, closing at N56.52tn and 99,793.71 points, respectively.
As a result, the return for the year thus far increased from 32.8 to 33.5 percent. A higher level of activity was indicated by the volume and value exchanged, which went up by 148.3% and 83.6% to 963.5 million units and N13.5 billion, respectively.
Four indexes increased while two fell. The top indices saw increases of 2.7% and 3.1%, respectively, in banking and oil and gas.
Along with the growth in market participation, the amount of traded units climbed by 1483.32 percent to 963,540,754.
The day’s trading was dominated by bullish activity, with 30 traders reporting gains and 10 losses on the exchange.
Leading the gainers’ table were Flour Mills Nigeria, which had a 10% increase to N41.80, Total Nigerian stocks, which closed at N353.60, and Access Holding, which saw a 9.86% gain to N18.95.
The biggest losers were Champion Breweries, which closed at N2.80, Daar Communications, which lost 9.52 percent to close at N0.57, and E-Tranzact International, which lost 9.90 percent to conclude at N4.55.
With N6.03 billion worth of its shares traded in 417 transactions, Fidelity Bank was the most traded security in terms of value.
In 12 deals, Abbey Mortgage Bank traded 2,919 units, leading the volume chart.
Investors on the Nigerian Exchange lost N225 billion last week.
At the end of the week, the market capitalization and the all-share index both decreased by 0.08 percent, closing at N56.13tn and 99,221.14, respectively.
Fixed-income securities with high returns would remain an appealing alternative for investors, and a high interest rate would make borrowing more costly and harm company profitability, according to Bismarck Rewane, Chief Executive Officer of Financial Derivatives.
He continued by saying that speculative investors will leave the stock market in pursuit of better yields after dividend payments.
Rewane stated that companies with large value losses will face foreign exchange losses and shareholder recapitalisation in June, when capital-raising activities in the Nigerian equities market are anticipated to soar.
