Nigerian Stocks Rally as BETAGLASS, PRESCO Lead Market Gains
Monday’s trading session saw the Nigerian equity market maintain its positive momentum, driven primarily by strong performances from Beta Glass, Presco, and several other equities that recorded gains.
The benchmark All-Share Index rose by 0.37%, reaching 118,579.65 points, compared to Friday’s closing figure of 118,138.22 points.
The total market value expanded to ₦74.812 trillion, representing a 0.37% uptick from the previous session’s ₦74.534 trillion, reflecting an addition of ₦278 billion in market capitalisation.
Trading activity included 653.7 million share units across 22,206 transactions, with a combined value of ₦21 billion.
The session concluded with positive market sentiment, as 46 equities recorded price increases while 22 declined.
Beta Glass, FTN Cocoa, Champion Breweries, Neimeth, and Presco topped the gainers’ list, each posting the maximum daily gain of 10.00%, to settle at ₦303.60, ₦3.08, ₦9.02, ₦4.07, and ₦1,210 per share, respectively.
Other notable performers included Legend Internet, University Press, and Ellah Lakes, which recorded gains of 9.97%, 9.97%, and 9.94%, respectively.
On the losing side, Julius Berger, Chams, and Secure Electronic Technology saw price declines of 7.48%, 5.09%, and 5.00%, respectively.
Fidelity Bank led in trading volume, with approximately 142 million shares changing hands across 826 transactions valued at ₦2.66 billion.
Zenith Bank also recorded significant activity, with about 46 million shares traded through 1,217 deals, totalling ₦2.3 billion.
Nigerian Breweries also featured prominently, with roughly 38 million shares exchanged in 203 transactions valued at ₦2.2 billion.
