The Nigerian Exchange Limited has showcased remarkable resilience, with the All-Share Index surging by 1.31% on Monday to reach an unprecedented high of 95,768.12 points. This surge marks an impressive 1,230-point increase from the previous Friday’s 94,538.12 points.
In tandem with the index’s climb, equities experienced a notable uptick, propelling the market cap to a 1.31% increase, reaching N52.408 trillion, surpassing last Friday’s N51.735 trillion and gaining N673 billion in the process.
Despite this surge, trading volume saw a 14.5% decline to 721.81 million units from the previous Friday’s 844.49 million units. Similarly, trading value took a dip, decreasing by 4.2% to N14.41 billion from the N15.04 billion recorded on the prior trading day.
The standout performers in this upswing were Sunu Assurances Nigeria Limited, which saw a 10.00% increase to close at N1.98, and Dangote Cement, climbing by 9.99% to close at N592.60, alongside three other robust performers. On the flip side, Flour Mills of Nigeria experienced a 10.00% dip, closing at N42.30, followed by CADBURY Nigeria, which closed at N26.10, along with four other companies.
In volume terms, TRANSCORP (-2.36%) led with 66.52 million units, trailed by VERITASKAP (-9.09%) with 47.00 million units, ACCESSCORP (-2.67%) with 40.01 million units, UNIVINSURE (-2.04%) with 38.88 million units, and JAPAULGOLD (+1.60%) with 32.82 million units. In the realm of value, NESTLE (-7.19%) led with N1.97 billion, followed by MTNN (-0.03%) with N1.76 billion, TRANSCORP (-2.36%) with N1.23 billion, DANGCEM (9.99%) with N1.20 billion, and ACCESSCORP (-2.67%) with N1.17 billion.
The trading sentiment was mixed for stocks worth over N1 trillion, with DANGCEM spearheading the charge by achieving a 9.99% gain, becoming the first Nigerian company to surpass the N10 trillion market cap level. However, other significant players in this category, such as UBA (-0.16%), ZENITHBANK (-2.22%), ACCESSCORP (-2.67%), and MTNN (-0.03%), experienced price declines, tempering overall market euphoria.
