Stock market gains 0.24% on Friday to close with market capitalization of N35.88 trillion

The Nigerian stock market rebounded and gained 0.24% on Friday to close at 65,558.91 points. As a result, the year-to-date (YTD) return increased to 27.92%, while market capitalization increased by N446.03 billion w/w to close at N35.88 trillion. The ASI closed 1.29% higher w/w after gaining in four (4) of five (5) trading sessions this week.

Renewed investor interest in GTCO (+0.28%), ACCESSCORP (+1.85%), and WAPCO (+0.37%) offset losses in ZENITHBANK (-0.76%), NB (-0.26%), and UBA (-0.36%). Strong performances by BUAFOODS (+17.94% w/w), STANBIC (+1.74% w/w), and DANGSUGAR (+35.71% w/w) were enough to offset losses by MTNN (-0.18% w/w), ZENITHBANK (-3.68% w/w), and GTCO (-0.96%) during the week.

Trade turnover was lower than it was on Thursday with the value of transactions falling by 67.19%. In 6,569 transactions, 356.02 million shares worth N4.23 billion were swapped. TRANSCORP (+9.85%) dominated the volume chart with 76.72 million units moved, while NASCON (+9.95%) headed the value chart with 465.01 million in transactions. On the leader’s board, NASCON (+9.95%) led twenty (20) others, while MBENEFIT (-8.89%) led seventeen (17) others on the laggard’s board.