Nigerian stock market records 0.22% gain on Friday with investors reaping N1.67 billion capitalization rise
The Nigerian stock exchange concluded Friday’s trading session on a positive note, resulting in a 0.22% increase in the All-Share index and closing at 70,196.77 points. Having experienced gains in four out of the five trading sessions of the week, the ASI ended the week 4.56% higher. As a result, the market capitalization increased by ₦1.67bn on a weekly basis to close at ₦38.56trn, and the year-to-date (YTD) return increased to 36.97%.
The market remained favorable due to purchases of shares in Telco Heavyweight, AIRTELAFRI (+5.66%), GTCO (+0.43%), and DANGSUGAR (+0.48%), which countered selloffs in MTNN (-2.50%), BUACEMENT (-4.29%), and UBA (-2.39%).
Throughout the week, the market saw good performance driven by gains in DANGCEM (+5.77% w/w), AIRTELAFRI (+27.85% w/w), and ZENITHBANK (+2.10% w/w), which outpaced losses in MTNN (-5.07% w/w), BUACEMENT (-5.01% w/w), and GTCO (-0.57% w/w). On the leader’s log, INTBREW (+9.64%) outscored eighteen (18) others, while on the laggard’s table, CHAMS (-8.18%) led eighteen (13) others.
Trade turnover settled at a greater level compared with Thursday’s results, with a 50.50% increase in transaction value. 6,436 transactions totaling 410.36 million shares, valued at ₦9.16 billion, were completed. With 61.10 million units traded, FIDELITYBK (+0.60%) topped the volume chart, while AIRTELAFRI (+5.66%) topped the value chart with trades totaling ₦2.22 billion.
