The Nigerian Exchange Limited kicked off the new trading week on a bullish note, recording a gain of N285 billion on Monday.

This upward movement followed a 0.31 percent increase in the performance index, driven by heightened buying activity that extended Friday’s positive sentiment.

As a result, the market capitalisation climbed by 0.31 percent, closing at N89.493 trillion, up from N89.208 trillion recorded at the end of the previous session.

In the same vein, the All-Share Index (ASI) rose by 435.63 points, or 0.31 percent, to reach 141,439.77.

Market breadth remained positive, with 40 stocks appreciating in value against 17 that recorded losses.

The rally was largely fueled by increased demand for equities such as Julius Berger, Cutix, Regalins, Veritas Kapital, and 36 other listed firms.

Julius Berger led the gainers' chart with a 9.93 percent rise to close at N146.10. It was followed by Cutix PLC, Regency Alliance Insurance, Veritas Kapital Assurance, and MC Nicholas.

On the other hand, University Press, Cadbury Nigeria, Abbey Mortgage Bank, and DAAR Communications were among the top laggards.

Despite the bullish outcome, there was a drop in both market volume and value, though the number of deals saw an increase.

A total of 591.2 million shares valued at N11.7 billion exchanged hands in 33,342 deals, compared to the 1.3 billion shares worth N47.8 billion traded in 25,916 deals on Friday.

FCMB emerged as the most traded stock, with 105.13 million shares worth N1.14 billion. Veritas Kapital followed with 59.6 million shares valued at N128.8 million.