The Nigerian stock market extended its positive momentum on Friday, gaining N953 billion as selective buying in mid-cap stocks outweighed profit-taking across several sectors.
The market capitalisation of listed equities rose by 0.93 per cent, closing at N103.775 trillion from N102.822 trillion recorded on Thursday. The NGX All Share Index (ASI) similarly advanced by 1,491.52 basis points to settle at 162,298.08 points from 160,806.56 points.
Investors displayed cautious optimism, positioning tactically amid declining liquidity rather than making aggressive commitments, reflecting a balanced market sentiment. The session recorded a positive breadth, with 48 gainers against 28 decliners, bringing the year-to-date return to 4.30 per cent.
Top gainers included IMG, Scoa Plc, and McNichols Plc, each rising 10 per cent to close at N35.20, N9.35, and N5.50 per share, respectively. May & Baker followed with a 9.92 per cent gain to N28.80 per share, while FTNCocoa grew 9.90 per cent to N6.66 per share.
On the losing side, Alex Plc led the decliners, shedding 9.91 per cent to close at N19.10, followed by Austin Laz with a 9.83 per cent drop to N4.13 per share. Sovereign Trust Insurance fell 9.63 per cent to N3.34, Prestige Insurance declined 9.57 per cent to N1.70, and UPDC dropped 9.09 per cent to N5.00 per share.
Trading volume decreased by 20.984 million units, or 3.25 per cent, as investors exchanged 624.079 million shares compared with 645.063 million shares the previous day. However, the value of transactions surged by 12.62 per cent to N18.523 billion across 43,816 deals.
Etranzact led market activity with 72.952 million shares valued at N1.094 billion, followed by Chams Plc with 30.322 million shares worth N115.769 million, AccessCorp trading 27.928 million shares valued at N638.223 million, Linkage Assurance exchanging 25.034 million shares for N44.429 million, and Sovereign Trust Insurance with 24.468 million shares costing N84.496 million.
