Business and Economy

Nigerian stock market gains 0.12% on Friday to close 0.17% higher wow

Nigerian stock market gained 0.12% on Friday to close at 71,541.74 points. Long-term increases in GTCO (+0.26%) and AIRTELAFRI (+2.10%) moved the overall index into positive territory. As a result of these, the ASI completed this week’s trading sessions up three (3) out of five (5) times, marking its sixth straight week of weekly growth, with a 0.17% increase week over week.

Strong results over the week were enough to counteract the losses in BUACEMENT (-7.21% w/w), DANSUGAR (-0.52% w/w), and OANDO (-12.29%). These performances came from MTNN (+0.25% w/w), UBA (+5.63% w/w), and STANBIC (+6.37% w/w). Consequently, the market capitalization increased by ₦45.87bn on a weekly basis to close at ₦39.15trn, and the year-to-date (YTD) return increased to 39.59%.

Trade turnover settled at a greater level than it did on Thursday with a 15.41% increase in transaction value. 5,747 deals totaling 503.84 million shares worth ₦7.21 billion were exchanged. With 67.28 million units traded, MBENEFIT (+1.92%) topped the volume chart, while AIRTELAFRI (+2.10) lead the value chart with trades totaling ₦1.95 billion. On the laggard’s table, FBNH (-10.00%) outperformed twenty-one (21) others, while MULTIVERSE (+9.95%) led fifteen (15) others on the leader’s log.

Leave a Reply