The Nigerian All-Share Index started the week on a positive note, closing Monday, August 4th, with a 2,808.71-point gain to settle at 144,071.76.
This marks a 1.99% increase from Friday’s close of 141,263.05, despite a slight dip in market volume.
Daily trading volume fell from 1.08 billion shares on Friday to 811 million shares on Monday, but that did not stop the market from pushing higher.
The total market capitalization edged up to N91.1 trillion, compared to N89.37 trillion recorded in the previous session, across 35,963 deals.
In terms of trading volume, FCMB and UNIVINSURE led the pack, recording the highest number of shares exchanged during the session.
Daily trading volume fell from 1.08 billion shares on Friday to 811 million shares on Monday.
GTCO led with trades worth N2.7 billion, followed by ZENITHBANK with N1.8 billion, and DANGCEM at N1.5 billion.
FCMB posted N979.4 million, while FIDELITYBK rounded out the top five with N955.5 million.
SWOOTs (Stocks Worth Over One Trillion Naira) delivered a mixed performance:
FUGAZ stocks showed a more tempered performance:
The Nigerian All-Share Index is firmly on a bullish trajectory, having broken through the 144,000 mark accompanied by rising investor participation.
If the rally in select heavyweight stocks continues and the market avoids being seen as overbought, the positive momentum is likely to carry on in the near term.