Business and Economy

Investors gain N112 billion as NGX All-Share Index closes higher on Friday trading activities

The Nigeria stock exchange concluded the week on a strong note by closing the session with the All-Share index up by 0.42% to close at 49,706.09 points, the highest level since 5 September and investors reaping a gain of N112 billion on Friday. With the value of transactions increasing by 27.87%, analysis of today’s market activity revealed that trade turnover settled higher than it had the previous session. In total, 2,063 transactions involved 140.37 million shares worth N4.02 billion.

The ASI closed 0.79% up w/w, marking its sixth consecutive weekly gain, after rising in each of the week’s five trading days. As a result, the year-to-date (YTD) return increased to 16.36% and the market capitalization increased by N212.31 billion weekly to close at N27.07 trillion.

The market remained positive thanks to buying activity in the shares of ZENITHBANK (+1.87%), GTCO (+1.35%), WAPCO (+4.45%), and FBNH (+2.16%). With 50.39 million units traded, UPDCREIT (+3.45%) headed the volume chart, while MTNN (+0.00%) dominated the value chart with transactions totaling N1.75 billion.

Strong performances from BUAFOODS (+2.52% w/w), ZENITHBANK (+1.87% w/w), GTCO (+7.42% w/w), WAPCO (+4.45% w/w), and FBNH (+8.26% w/w) during the course of the week were enough to keep the market in the green.

At a ratio of 3.11 to 1, the market breadth closed in the positive, with more rising issues than declining ones. On the gainer’s log, GEREGU (+10.00%) outperformed twenty-seven (27) rivals, while CHAMS (-4.35%) outperformed eight (8) rivals.

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