Equity Market Surges with N795bn Increase.

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The Nigerian Stock Exchange (NSE) kicked off the week on a positive note, with a significant surge of N795 billion in market capitalisation. This brings the total market capitalisation to N64.44 trillion.

The All-Share Index also experienced a notable increase of 0.79%, gaining 820.65 points to close at 104,418.95. This represents a one-week gain of 2% and a four-week gain of 2.24%.

The market breadth closed on a positive note, with 38 equities recording gains and 30 equities experiencing declines in share prices.

Beta Glass led the gainers, with a remarkable 9.98% increase in its share price, closing at N65.00 per share. RT Briscoe followed closely, with a 9.92% rise, while Access Holdings gained 9.88%, and Chellarams rose by 9.83%.

On the other hand, MRS Oil Nigeria saw the highest loss, declining by 10% to close at N180.90 per share. Transcorp Hotels dropped by 9.97%, Eunisell fell by 9.95%, and John Holt lost 9.64% of its value.

In terms of trading volume, Access Holdings recorded the highest volume, with 51 million shares traded. FCMB Group followed, with 40.3 million shares, while Sterling Bank and Zenith Bank recorded 38.9 million shares and 33.2 million shares, respectively.

The Banking Index saw a significant rise of 4.71%, while the Pension Index increased by 2.1%, and the Consumer Goods Index rose by 1.74%.

This surge in the market follows a positive trend from last week, where the All-Share Index and market capitalisation appreciated by 1.22% and 1.26%, respectively.

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