The Nigerian stock market kicked off the new trading week on a positive note, rebounding from last week’s mild decline driven by profit-taking.
At the close of Monday’s session, the All-Share Index (ASI) inched up by 0.07% to close at 144,722.47 points, compared to 144,628.20 points recorded previously. Market capitalisation added N59 billion to settle at N91.569 trillion, against N91.502 trillion in the last session.
Trading activity remained strong as investors exchanged 1.15 billion shares worth N16 billion across 38,160 deals. Market breadth ended positive with 43 gainers against 27 losers.
Top gainers
UPDC and AIICO Insurance led the rally, each appreciating by 10% to close at N7.15 and N4.18 respectively. Cornerstone Insurance advanced 9.99%, while DEAPCAP gained 9.94%.
Top losers
STANBIC was the day’s worst performer, shedding 9.99% to close at N100.00 from N111.10. PZ Cussons and NEM Insurance also dropped 7.89% and 7.85% respectively.
Volume drivers
Universal Insurance was the most actively traded stock with 202 million units worth N266 million exchanged in 633 deals. Linkage Assurance followed with 78 million shares valued at N207 million, while LASACO recorded 66 million shares worth N263 million.
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