The Nigerian All-Share Index began the week on a strong note on Monday, October 13, advancing by 729.2 points to close at 147,717.2.
This represents a 0.50% increase from the previous close of 146,988.1, as large-cap stocks such as Transcorp Power and Stanbic IBTC ended in the green.
Trading volume nearly doubled, reaching 624 million shares compared to 385 million in the previous session.
Market capitalization also advanced to N93.7 trillion, up from N93.2 trillion, across 31,563 deals.
Trading volume
Daily market volume rose sharply to 624 million shares, compared to 385 million in the previous session.
Stocks Worth Over One Trillion Naira (SWOOTs) ended the session mostly on a positive note.
Among the tier-one banks (FUGAZ), performance was mixed.
On the downside, GTCO declined 1.05%, while Zenith Bank shed 0.73%.
Market outlook
The Nigerian All-Share Index has firmly re-established its bullish momentum, reclaiming and surpassing the 146,000 and 147,000 levels.
Sustained gains in mid- and large-cap stocks are expected to further strengthen the rally in the near term.