The Nigerian stock market ended the week on a strong note on Friday, as investors recorded a bullish rally that added N962 billion to market value.
The surge was fueled by sustained investor interest in stocks such as Guinness, University Press, Royal Exchange, May & Baker, Fortis Global Insurance, and about 30 other equities.
As a result, the market capitalisation rose from N126.398 trillion at the opening of trading to N127.360 trillion at the close, representing a 0.76 per cent gain, equivalent to N962 billion in added investor wealth.
Similarly, the All-Share Index advanced by 0.76 per cent, or 1,498.54 points, climbing from 196,908.76 in the previous session to 198,407.30 at the close of trading.
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The Year-to-Date return improved to 27.50 per cent, reflecting sustained investor confidence in the local equities while the market breath closed positive with 35 gainers and 20 losers.
Guinness, University Press and Royal Exchange led the gainers’ chart by 10 per cent each, ending the session at N385, N5.50 and N1.87 per share respectively.
Also, May and Baker gained by 9.93 per cent, closing at N41.50, while Fortis Global Insurance increased by 9.26 per cent, settling at N1.18 per share.
On the flip side, RT Briscoe led the losers’ chart by 9.17 per cent, finishing at N10.40.
Learn Africa trailed by 8.33 per cent, closing at N8.25, and NGX Group dipped by 6.12 per cent, ending the session at N176.50 per share.
Similarly, Haldane McCall shed by 5.78 per cent, finishing at N3.91, while AXA Mansard Insurance fell by 5.63 per cent, closing at N14.91 per share.
The market activity was up for the day, with total volume traded up 7.51 per cent to 591.04 million shares, valued at N35 billion across 53,066 transactions.
While Firstholdco recorded the highest volume with 70.83 million traded shares, accounting for 11.98 per cent of the volume traded for the day, MTN Nigeria recorded the highest value with N6.68 billion shares traded, accounting for 19.09 per cent of the day’s total value.
NAN
