Business and Economy

Stock market ends the week with 0.54% gain on Friday

The Nigerian stock market ended the week on a high note with the All-Share index gaining 0.54% to close at 83,042.96 points on Friday. The positive momentum was driven by increased buying interest in BUAFOODS (+3.41%), GTCO (+2.89%), and DANGSUGAR (+1.04%), which offset the selling pressure on BUACEMENT (-0.63%), ZENITHBANK (-1.15%), and ACCESSCORP (-0.53%). Overall, the market remained in positive territory, with the ASI closing 4.24% higher for the week after gaining in four out of five trading sessions.

Throughout the week, notable performances from BUAFOODS (+15.54% w/w), ZENITHBANK (+2.38% w/w), and DANGSUGAR (+4.92% w/w) contributed to the market’s positive performance, outweighing losses in MTNN (-0.70% w/w), FIDELITYBK (-5.63% w/w), and GUINNESS (-1.64% w/w). As a result, the year-to-date return rose to 11.06%, and the market capitalization increased by ₦1.85trn to close at ₦45.44trn.

Trade turnover was lower compared to Thursday session with the value of transactions declining by 36.88%. A total of 600.63 million shares valued at ₦9.10bn were exchanged in 11,697 deals. TRANSCORP (+3.36%) led the volume chart with 54.44 million units traded, while ACCESSCORP (-0.53%) topped the value chart with deals worth ₦1.27bn. MBENEFIT (+10.00%) emerged as the top gainer among forty-five others on the leader’s table, while IMG (-9.15%) led eighteen others on the laggard’s log.

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