Equities Investors Gain N618bn in Nigerian Stock Market
Boosted by interest in mid and large cap stocks, equities investors gained N618 billion in Nigerian stock market on Friday due to buying interest that cut across sectoral indexes.
The positive sentiment lifted Nigerian Exchange (NGX) market capitalisation up by N618 billion or 0.7 per cent, closing at N89.960 trillion from N89.342 trillion on Thursday.
Similarly, the All-Share Index increased by 983.99 points or 0.7 per cent to close at 142,133.03 from 141,149.04 recorded previously. Also, the market breadth closed positive with 36 gainers and 23 losers.
Thomas Wyatt Nigeria led the gainers’ table by 10 per cent, closing at N3.30 while The Initiates and Eunisell Interlinked grew by 9.98 per cent each, ending the session at N13.22 and N33.60 per share respectively.
FTN Cocoa Processors rose by 9.96 per cent, finishing at N5.96 and Omatek Ventures soared by 8.57 per cent, settling at N1.14 per share.
Conversely, Fidelity Bank led the losers’ table, dropping by 10 per cent, closing at N18.45, Custodian Investment trailed by 8.90 per cent, settling at N44 while Cutix fell by 8.31 per cent, finishing at N3.20 per share.
Daar Communications dipped by 7.02 per cent, ending the session at N1.06 and Union Dicon Salt declined by 5.26 per cent, closing at N9 per share.
Analysis of the market activity revealed decline in the market value and volume with an improvement in the deals.
A total of 518.7 million shares valued at N18.05 billion were traded across 22,350 deals, compared to the previous day’s 5.5 billion shares worth N419.7 billion exchanged in 20,399 transactions.
Abbey Mortgage Bank topped the activity chart in volume with 50.03 million shares valued at N340.2 million.
Zenith Bank followed with 38.97 million shares worth N2.7 billion while Stanbic IBTC sold 38.95 million shares valued at N4.2 billion.
FCMB traded 32.3 million shares worth N347.8 million and Sovereign Trust Insurance transacted 27.3 million shares valued at N84.1 million.
Most sectors posted gains: Industrial (+1.69%), Consumer Goods (+1.17%), Insurance (+0.63%), and Banking (+0.19%), while Oil & Gas and Commodity sectors stayed flat.
Trading activity fell sharply, with volume dropping 90.53% to 518.66 million units and values falling 95.70% to ₦18.05 billion. However, deals rose 9.56% to 22,350 transactions, indicating increased smaller-sized trades. #Equities Investors Gain N618bn in Nigerian Stock Market Femi Otedola Stake in First Holdco Rises with N1.21bn Shares Purchase
