Business and Economy

Stock market ends Friday session with a modest 67% gain

The Nigerian Stock market NGX All-Share Index closed today’s trading session at 100,057.49 points, marking a 67bps increase. The positive performance was primarily driven by gains in MTNN (+7.00%), FBNH (+2.82%), and UBA (+0.22%), resulting in a rise in market capitalization by ₦374.07b.

Market analysis revealed a decrease in turnover compared to the previous session, with transaction value decreasing by 5.80%. A total of 509.71m shares valued at ₦9.88bn were traded in 7,945 deals. TRANSCORP (+4.00%) led the volume chart with 125.40m units traded, while GUINNESS (-4.29%) led the value chart with transactions worth ₦2.88b.

Market breadth closed positively with advancing issues outnumbering declining ones at a ratio of 3.4-to-1. UCAP (+9.96%) topped the list of gainers among thirty-three (33) others, while JAIZBANK (-9.72%) led nine (9) others on the laggard’s log.

In terms of sector performance, the NGX Oil and Gas Index (+5.71%) led the gainers, followed by the NGX Insurance Index (+3.33%), the NGX Pension Index (+1.99%), the NGX Banking Index (+1.14%), and the NGX 30 Index (+0.42%). Conversely, the NGX Consumer Goods Index (-0.56%) and the NGX Industrial Goods Index (-0.33%) closed in the negative.

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