The stock market opened on a positive note on Monday, as performance indices grew by 0.31 per cent due to increased buying activity.
This is extending Friday’s bullish close.
The uptrend was driven by strong buying interest in stocks like: Julius Berger, Cutix, Regalins, Veritas Kapital and 36 others.
Market capitalisation rose by N285 billion, or 0.31 per cent, to close at N89.493 trillion, compared with N89.208 trillion on Friday.
Similarly, the All-Share Index (ASI) increased by 435.63 points, or 0.31 per cent, to settle at 141,439.77.
Also, the market breadth closed positive with 40 advancers against 17 decliners.
Julius Berger led the gainers’ table by 9.93 per cent, closing at N146.10 while Cutix Plc grew by 9.86 per cent, settling at N3.90 per share.
Regency Alliance Insurance rose by 9.70 per cent, finishing at N1.47 and Veritas Kapital Assurance soared by 9.60 per cent, ending the session at N2.17 per share.
Similarly, MC Nicholas gained by 9.38 per cent, closing at N3.50 per share.
Conversely, University Press lost by 9.92 per cent, finishing at N5.54 while Cadbury Nigeria declined by 9.61 per cent, settling at N57.85 per share.
Abbey Mortgage Bank shed by 8.39 per cent, closing at N6.55 and DAAR Communications dipped by 7.44 per cent, ending the session at N1.12 per share.
Also, Austin Laz fell by 6.55 per cent, closing at N2.71 per share.
Analysis of the market activities revealed a decline in the market volume and value with an increase in the deals.
A total of 591.2 million shares worth N11.7 billion were traded across 33,342 transactions, compared with 1.3 billion shares valued at N47.8 billion that was exchanged across 25,916 transactions earlier on Friday.
Meanwhile, transactions in the shares of FCMB topped the activity chart with 105.13 million shares valued at N1.14 billion.
Veritas Kapital followed with 59.6 million shares worth N128.8 million while Universal Insurance sold 34.4 million shares valued at N45.2 million.
AIICO Insurance traded 26.2 million shares worth N111.9 million and Guaranty Trust Holding Company transacted 25 million shares valued at N2.4 billion.