Stock market closes higher on Friday with 0.18% gain

The Nigerian stock market closed positive on Friday with the All-Share Index closing 0.18% higher at 65,325.37 points. Gains in telco heavyweight MTNN (+1.05%), as well as DANGSUGAR (+1.85%) and ETI (+1.94%), moved the index into positive territory, offsetting losses in GTCO (-0.26%), STANBIC (-0.16%), and ACCESSCORP (-0.86%). The ASI closed 0.20% higher w/w after gaining in three (3) of five (5) trading sessions this week.

Positive performance from MTNN (+1.05% w/w), BUAFOODS (+0.75% w/w), and ZENITHBANK (+2.64% w/w) was enough to balance the selloff from DANGCEM (-0.60% w/w), GEREGU (-1.59% w/w), and STANBIC (-1.69% w/w). As a result, the year-to-date (YTD) return increased to 27.46%, while the market capitalization gained ₦92.68bn w/w to close at ₦35.57trn.

Trade turnover settled higher than it was on Thursday with the value of transactions increasing by 45.60%. In total, 489.69 million shares worth N8.36 billion were traded in 5,804 transactions. STERLINGNG (+3.20%) dominated the volume chart with 86.11 million units exchanged, while SEPLAT (+0.00%) led the value chart with N3.54 billion in transactions. GLAXOSMITH (+9.78%) led nineteen (19) other contenders on the leader’s board, while MBENEFIT (-7.84%) led seventeen (17) others on the laggard’s board.