Nigerian equities gain N425 billion to close week strong
The local equity market on Friday returned to bullish activities, gaining N425 billion as bulls dominated trading activities.
The market capitalisation of listed equities increased by 0.48 per cent to N89.208 trillion from N88.783 trillion it closed on Thursday.
The NGX All Share Index also increased by 671.70 basis points to 141004.14 points from 140332.44 points reported the previous day.
Trading during the day showed that gains recorded in heavyweight companies, including Buafoods; Dangote Sugar; Betaglass; Cap Plc, GTCO; Nahco and among others pushed the market forward.
The market breadth was positive with 50 advancers against 14 decliners, thereby bringing year to date return to 37 per cent.
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The volume of trades surged by 729.251 million, representing, 127.10 per cent as investors traded 1.303 billion against 573.749 million; the value of transactions during the day up by 277.55 per cent to settle at N47.841 billion from N12.876 billion in 25916 deals.
A review of trading during the day showed that UPDC and FTNCocoa recorded 10 per cent gain each to close at N6.93 and N6.60 per unit respectively; Betaglass and VeritasKapital also added 10 per cent to close respectively at N449.35 and N1.98 per share; Sovereign Trust Insurance up by 9.96 per cent to close at N2.65 per unit.
On the contrary, Lasaco Insurance topped losers chart, dropping by 10.00 per cent to close at N4.05 per unit; Thomas Way trailed with a loss of 9.91 per cent to close at N3.00 per unit; Geregu Power records a drop of 9.09 per cent to close at N1141.50 per unit; Mcnichols dipped by 7.51 per cent to close at N3.20 per share.
Transactions in the shares of Zenith Bank led market activities with 345.549 million shares valued at N21.231 billion.
FCMB group followed with account of 335.960 million shares valued at N3.531 billion; AIICO Insurance traded 43.727 million shares worth N181.825 million; Nigerian Breweries exchanged 42.255 million shares valued at N3.025 billion; Wapic Insurance traded 33.325 million shares.
