Nigerian Market Capitalization Rises to 162.157 Trillion Naira
Nigerian equities investors gained 2.265 trillion naira on Friday as market capitalization climbed to 162.157 trillion naira.
Nigerian equities investors gained 2.265 trillion naira on Friday. The market capitalization increased by 1.42 percent to reach 162.157 trillion naira. This rise followed the previous close of 159.892 trillion naira on Thursday. The All-Share Index climbed by 3,489.18 points. The index settled at 249,804.56 points, up from 246,315.38 points.
Trading activity showed a split performance among major stocks. The year-to-date return for the market strengthened to 60.53 percent. Market breadth remained positive with 36 advancers against 22 decliners. These figures were reported by GN auto markets/indices: market indices. The gain was driven by buying interest in medium and large capitalization shares.
Top gainers lead market rally
Cileasing and Fortis Global Insurance topped the gainers list. Both stocks rose by 10 percent. Cileasing settled at 5.50 naira per share. Fortis Global Insurance closed at 1.65 naira per share. MTN Nigeria advanced by 9.20 percent to 890 naira. Mutual Benefits increased by 9.09 percent to 3.60 naira. Secure Electronic Technology also rose by 9.09 percent to 72,000 naira.
Losing stocks dampen overall volume
Transcorp Power led the losers chart with a 9.96 percent drop. The stock ended the session at 178 naira. Cadbury Nigeria fell by 9.32 percent to 53 naira. Omatek Ventures declined by 8.40 percent to 1.20 naira. Sovereign Trust Insurance dropped by 6.78 percent to 2.20 naira. Ellah Lakes decreased by 5.11 percent to close at 8.35 naira.
Trading volume declines significantly
Total trading volume fell by 52.68 percent during the session. The exchange recorded 526.01 million shares traded. The total value of transactions reached 96.91 billion naira. These deals consisted of 44,293 executions. Mutual Benefits led the volume chart with 76.64 million shares. This represented 14.57 percent of the total volume. Seplat Energy accounted for the highest value traded at 67.51 billion naira. This figure made up 69.67 percent of the daily total value.
