The All Shares Index of the Nigeria Stock Exchange appreciated by 1.86 percent to close at 34,652.52 at the end of trading on Monday. This is in line with the predictions of financial analysts that the market would sustain its bullish run.
The capital market had experienced steady growth in the past two weeks of trading as investors showed more confidence in the economic recovery steps by the federal government.
The CBN has also injected millions of dollars into the economy in the last couple of months, an attempt which has seen the stock market appreciating astronomically.
Monday’s trading showed that a total of 293.75 million stocks valued at N3.94 billion were traded in 3,712 deals to bring the market capitalisation to N11.94 trillion.
Dangote Cement led the gainers chart with N10.6 gain having sold for N222.6 against N212. It appreciated by 5 percent. It was followed by Julius Berger which grew by 4.96 percent and closed the day with N36 against N34.3 with which it opened the week.
Stabic IBTC gained N1.01 to close at N33.50 with a percentage growth of 3.11. It opened the week at N32.49.
Conversely, Nestle Plc lost N16 to close at N902, it opened the day at N918 meaning 1.74 percentage loss.
PZ Industries stocks closed the day at N21.40 with 60 kobo loss representing 2.73 percentage decrease. Okomu Oil also shed 50 kobo to close at N64 which means 0.78 percatage loss.
Banking sector again remain the most active as Access Bank Plc traded 73.56 million shares valued at N730.18 million. UBA is next in terms of volume with a total of 34.61 millions share worth N323.277 million.
Guaranty Trust Bank also sold 32.57 million shares with the value put at N1.2 billion to make the top three most traded stocks on Monday.
With experts projections and the bullish trend in the last two straight week of trading, it is expected that the market would continue to soar as Nigeria economy returns to positive growth.
