Nigerian stocks extended gains for a second straight session on Monday, with the benchmark index edging higher 0.29 per cent as investors’ exuberance for bank equities helped push stocks higher.

Big lenders Zenith and GTB drove gains, but the advance was somewhat limited by a drop of 4.84 per cent in the shares of Flour Mills that helped the consumer goods index take bottom rung of the performance ladder.

The banking index was the best-performing of the five sectorial indices tracked by the bourse, advancing 2.89 per cent to 364.50 basis points.

The market ended with a positive breadth as 28 gainers emerged against 15 losers.

The all-share index jumped 113.99 basis points to 39,312.74, while market capitalisation climbed to N20.496 trillion

Year to date, the index is down 2.38 per cent.


Regal Insurance led gainers, appreciating by 9.68 per cent to close at N0.34. ABC Transport grew by 9.68 per cent to end trade at N0.34. Union Bank went up by 9.26 per cent to N5.20.

Linkage Assurance rose to N0.75, notching up 8.70 per cent in the process. Mutual Benefits completed the top 5, climbing up 8.11 per cent to N0.40


Unity Bank topped the losers’ chart, declining by 8.33 per cent to close at N0.55. Japaul Gold shed 6.67 per cent to end today’s trade at N0.56. Neimeth fell to N1.71, losing 6.04 per cent in the process. Flour Mills slumped to N29.50, recording 4.84 per cent depreciation. NAHCO closed at N2.10, going down by 4.55 per cent.


In all, 92.836 million shares estimated at N1.229 billion were traded in 2,249 deals.

ETranzact was the most active stock with 72.176 million of its shares worth N162.396 million traded in 1 deal. Zenith traded 44.001 million shares, priced at N1.015 billion exchanged hands in 487 transactions.

Access had 22.979 million shares valued at N189.174 million traded in 428 deals. UBA traded 16.585 million shares estimated at N119.353 million in 263 transactions. Mansard traded 16.430 million shares valued at N14.202 million in 136 deals.


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