Business and Economy

Nigeria stock market closes higher on Friday with 0.25% gain

The Nigeria Stock market closed the week on a high note, with the All-Share index rising by 0.25% to close at 71,230.48 points. The ASI closed 0.17% higher week over week, having gained in three of the five trading days this week. The market was held positive by holdings in ZENITHBANK (+3.58%), GTCO (+0.13%), and UBA (+0.48%).

Strong weekly results from ZENITHBANK (+3.89% w/w), GTCO (+5.81% w/w), and GEREGU (+0.88% w/w) outpaced losses from MTNN (-0.63% w/w), STANBIC (-7.08% w/w), and DANGSUGAR (-1.64% w/w). these companies powered the market’s performance. Consequently, the market capitalization gained ₦64.61bn w/w to close at ₦39.17trn, and the year-to-date (YTD) return increased to 38.98%.

Trade turnover settled at a greater level than it did on Thursday with a 24.07% increase in transaction value. 6,874 transactions totaling 582.77 million shares, valued at ₦4.27 billion, were completed. With 107.05 million units traded, VERITASKAP (-7.50%) topped the volume chart, while ZENITHBANK (+3.58%) topped the value table with trades totaling ₦773.81 million. ABCTRANS (-9.68%) led nineteen (19) others on the laggard’s table, while NSLTECH (+10.00%) led thirty-one (31) others on the leader’s log


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