The Nigerian equities market opened the week on a bullish note after the All-Share Index lost 1.4 percent last week even as trading for the week began on a positive trend due to price appreciation in high capitalized stocks.
The News Agency of Nigeria (NAN) reports that the crucial market indicators appreciated by 0.71 percent to reverse the bearish mood.
Specifically, the All-Share Index inched 190.60 points or 0.71 percent to 27,115.89 compared with 26,925.29 achieved on Friday.
Also, the market capitalization which opened at N13.121 trillion rose by N93 billion or 0.71 percent to close at N13.214 trillion.
The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are; MTN Nigeria, Stanbic IBTC, Dangote Cement, Zenith Bank, and Dangote Flour Mills.
Capital market analysts attributed the positive growth to Zenith International Bank impressive half-year results released in the market.
Market breadth turned positive with 20 gainers and 13 losers.
The total volume traded declined by 2.92 percent to 250.74 million shares worth N4.17 billion exchanged by investors in 4,116 deals.
This was in contrast with a turnover of 258.29 million shares valued at N4.17 billion achieved in 4,662 deals on Friday.
