Home Business News Equities market sustains bullish rally, gains 0.63%

Equities market sustains bullish rally, gains 0.63%


Trading in the Nigerian Stock Exchange (NSE) sustained a positive trend on Friday, with key market indices recording 0.63 percent growth over the value recorded in the preceding trading session.

The rally which was triggered by gains by some blue chips, saw the market capitalisation rising by N81 billion or 0.63 per cent to close at N12.933 trillion as against the N12.852 trillion cap value on Thursday.

The All-Share Index rose by 220.05 points or 0.63 per cent to close at 35,426.21 compared to 35,206.16 posted on Friday.

According to data soruced from the NSE website, Dangote Cement Plc led the gainers’ chart on Friday for the second consecutive day, gaining N5 to close at N235 per share while Flour Mills followed with a gain of N1 to close at N21.50, just as Ecobank Transnational gained 60k per share to close at N20 per share.

This is even as Air Service improved by 46k to close at N5.30, while NEM Insurance appreciated by 15k to close at N3 per share.

However, on the flip side of the market trend, International Breweries topped the losers’ chart, shedding N2 to close at N32 per share. Afri Prudential Registrar followed with a loss of 35k to close at N37.50, while Guaranty Trust Bank declined by 30k to close at N37.50 per share.

UPL stock’s price dropped by 23k to close at N2.07, while NASCON lost 10k to close at N19.90 per share.

Overall, the volume of shares traded rose by 139.11 per cent, while value of shares transacted increased by 79.05 per cent as investors traded a total of 527.74 million shares valued at N4.53 billion in 3,313 deals.

On Thursday, investors traded 220.71 million shares worth N2.53 billion exchanged in 3,287 deals.

On stocks’ activeness during trading, United Bank for Africa was the most active stock, exchanging 235.66 million shares worth N1.89 billion while NEM Insurance followed with an account of 93.09 million shares valued at N279.19 million. ETI traded 21.91 million shares worth N438.03 million.

In addition, Regence Insurance sold 18.812 million shares valued at N4.19 million, while FBN Holdings exchanged 17.94 million shares worth N172.67 million.