The Nigerian equities market has recorded its eighth consecutive positive performance on Monday as investors added N257 billion to their portfolios.
The continued uptick was as a result of increased investor interest in stocks like Aluminium Extrusion Industries, International Energy Insurance, Mecure, Royal Exchange, Austinlaz ans 29 other advancing stocks.
Specifically, the market capitalisation, which opened at N96.936 trillion, closed at N97.193 trillion, representing a 0.26 per cent gain.
The All-Share Index also climbe by 0.26 per cent or 401.69 points to close at 152,459.07 compared with 152,057.38 posted on Friday.
As a result, while the year-to-date (YTD) return rose to 48.12 per cent, the market breadth also closed positive with 34 gainers and 20 losers.
Aluminium Extrusion Industries led the advancers’ table by 9.72 per cent, closing at N13.55, International Energy Insurance trailed by 9.69 per cent, ending the session at N2.49 while Mecure Industries gained by 9.64 per cent, settling at N60.30 per share.
Also, Royal Exchange grew by 9.60 per cent, finishing at N1.94 and Austinlaz rose by 9.50 per cent, closing at N2.65 per share.
Conversely, Custodian Investment and ABC Transport led the decliners’ table by 10 per cent each, settling at N35.10 and N3.15 per share respectively.
Similarly, Prestige Assurance dropped by 7.41 per cent, finishing at N1.50, Guinea Insurance she’d by 7.38 per cent, closing at N1.13 while Ellah Lakes fell by 6.45 per cent, ending the session at N13.05 per share.
Analysis of the market activity showed decline in the market value and volume with growth in deals as 451.5 million shares worth N13.03 billion was traded in 33,327 deals.
This is in contrast with 1.5 billion shares worth N21.8 billion that was traded in 25,669 transactions.
Tantalizer recorded the highest volume with 50.18 million shares traded, while Aradel recorded the highest value at N1.51 billion.