The Nigerian stock market soared by N117bn on Monday after 18 stocks recorded significant appreciation on their market prices.
Dangote Cement Plc, Ecobank Transnational Incorporated, Fidson Healthcare Plc, Mobil Oil Nigeria Plc and Tiger Branded Consumer Goods Plc emerged top five gainers after the close of trading on the floor of the Nigerian Stock Exchange.
A total of 467.239 million shares valued at 1.489bn were traded in 2,549 deals.
At the end of trading, the NSE market capitalisation soared to N8.452tn from N8.335tn, while the All-Share Index climbed to 24,570.73 basis points from 24,228.79 basis points.
The stock index rose by 1.41 per cent, its highest level in two weeks, supported by investors’ interest in the shares of Dangote Cement majorly, which accounts for a third of the local bourse’s capitalisation.
The stock index has the second-biggest weighting after Kuwait on the MSCI frontier market index.
The highest index attained by the market in the course of trading on Monday was 24,570.73, while the lowest and average index points were 23,883.34 and 24,163.31 basis points, respectively.
