Business and Economy

Nigerian stock market ends the week positive gaining 0.12% on Friday

The Nigerian Stock Exchange concluded the week with a gain of 0.12% in the All-Share index, which closed at 71,112.99 points. The ASI closed 0.37% higher week over week, marking its fourth straight weekly gain, having gained in four of the five trading days this week.

The market was held positive by investments in SEPLAT (+7.69%), UBA (+0.48%), and ACCESSCORP (+0.29%), which offset losses in MTNN (-0.62%), ZENITHBANK (-0.30%), and DANGSUGAR (-0.65%). On the leader’s log, MULTIVERSE (+10.00) had the advantage over nineteen (19) others, and on the laggard’s table, JAPAULGOLD (-9.09%) had the advantage over twelve (12) others.

Strong results from index heavyweight MTNN (+2.35% w/w), along with SEPLAT (+6.06% w/w) and ZENITHBANK (+1.06% w/w), propelled the market’s success throughout the week, surpassing losses from DANGSUGAR (-0.97% w/w), ACCESSCORP (-0.29% w/w), and BUACEMENT (-2.80% w/w). Consequently, the market capitalization gained ₦180.22bn w/w to end at ₦39.11trn, and the year-to-date (YTD) return increased to 38.75%.

Trade turnover settled at a greater level than it did on Thursday with a 37.77% increase in transaction value. In 5,883 deals, a total of 441.58 million shares worth ₦6.03 billion were traded. With 95.21 million units, JAIZBANK (-0.62%) topped the volume chart, while GTCO (0.00%) lead the value list with deals totaling ₦1.31 billion.

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