Stock
The Nigerian stock market closed bullish on Friday, extending its positive run with a 0.28 per cent gain to end the week.
The gain added N437 billion to the value of investors’ portfolios.
The market’s upward movement was driven by gains in Abbey Mortgage Bank, Updc Real Estate Investment Trust, Omatek Ventures, Consolidated Hallmark Holdings, Chams and 26 other equities.
Market capitalisation opened at N157.150 trillion and closed higher at N157.587 trillion.
Similarly, the All-Share Index (ASI) rose by 0.28 per cent, advancing by 674.61 points to close at 243,052.74, compared to 242,378.13 recorded on Thursday.
The market’s Year-To-Date return improved 56.19 per cent.
The market breadth also closed positive with 31 gainers and 18 losers.
Updc Real Estate Investment Trust and Abbey Mortgage Bank led the gainers’ table by 10 per cent each, settling at N13.75 and N7.15 per share respectively.
Omatek gained 9.60 per cent to close at N1.37, Consolidated Hallmark rose 9.06 per cent to N6.50, while Chams advanced 8.90 per cent to N3.67 per share.
On the losers’ table, John Holt closed lower by 10 per cent at N9.00, Austinlaz declined 9.55 per cent to N1.99, while Royal Exchange closed at 90k after a 9.09 per cent drop.
Also, UPDC fell by 5.88 per cent, settling at N3.20 and Secure Electronic Technology dipped by 4.41 per cent, closing at 65k per share.
Read Also:
Stock market gains N1.914trn on frontier status
Tinubu praises Economic Team and NGX for stabilizing Economy and Rebound of capital market
An analysis of the market activity revealed an overall decline in the market volume, value and deals as 582.89 million shares worth N25.79 billion were exchanged across 45,678 transactions.
This is compared with the previous session’s 1.40 billion shares valued at N27.14 billion that was traded in 46,218 deals.
Sterling Nigeria recorded the highest volume, with 98.78 million units traded, accounting for 17.87 per cent of the day’s total volume.
Aradel led in value with N5.15 billion, representing 19.96 per cent of the total value traded. (NAN)
