Stocks Remain Bullish, Gain N296bn
The Nigerian Stock Exchange (NSE) closed trading for the week on a positive note with several equities recording huge gains Friday.
The appreciation of the market saw the All Share Index (ASI) rose by 1.56 per cent to close at 36,804.75 basis points as against the 36,239.62 basic points it posted Thursday.
The market capitalisation also recorded a positive trend closing at N19.236 trillion from the N18. 940 trillion it recorded the previous day. This means the market gained N296bn or 1.56 per cent.
The surge in capitalized equities like Oando Plc, Ardova petrified, Dangote Cement, MTN Nigeria and Guinness Nigeria contributed in the growth of the market Friday.
Trading on the floor of the equities market also saw the Market turnover increased, as investors bought and sold 426.334 million shares worth N4,362 billion in 4,298 deals, as against 343.636 million shares worth N4.349 billion in 3,895 deals Thursday.
The market breadth was hugely positive, with 46 gainers and 7 losers compared with 39 gainers and 17 losers the previous day.
C and I Leasing led the losers’ table in percentage barometers, losing by 9.83 per cent to close at N4. 31 per share.
LASACO Assurance fell by 6.25 per cent to close at 0.3 Kobo per share, while Link Age Assurance dipped by 2.17 per cent to close at 0.45 per share.
The losers’ table continued with United Capital and May and Baker Nigeria Plc depreciated by 1.27 and 1.03 per cent to close at N4.65 and N3.85 per share respectively.
On the flip side, the gainers’ table was dominated in percentage terms by Oando Plc, when it surged by 9.79 per cent to close at N3.14 per share.
Also, Ardova shares climbed by 7 92 per cent to close at N14. 3 per share, while Dangote Cement rose by 4.75 per cent to close at N209.5 per share.
MTN Nigeria appreciated by 3.23 per cent to close at N160 per share, while Guinness Nigeria moved up by 2.15 per cent to close at N19 per share.
The activity chart was led in volume by Niger Insurance, trading in 130.244 million shares worthN26.048 million, while Guaranty Trust Bank traded 23.428 million shares at N790.821 million.
Mansard Insurance sold 21.747 million worth of shares at N260. 007 million. Also, FBN Holding traded in 21.330 million shares worth N150. 482 million, while Zenith Bank followed with 20. 221 million shares worthN501.096 million.
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