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Nigerian stock market rises by N36billion



The nation’s stock market activities maintained a positive mood on Friday with the market capitalization rising further by 36 billion naira.

Specifically, the market capitalization that opened at N24.274 trillion increased by N36 billion or 0.15 percent to close at N24.760 trillion.

Also, the All-Share Index rose 66.83 points, or 0.15 percent, to 45,957.35 from 45,890.52 trading on Thursday.

An analysis of the price movement chart shows that 20 stocks posted price growth in contrast to 13 laggards.

Northern Nigeria Flour Mills led the winners’ table in percentage terms, gaining 9.72 per cent to close at N7.90 per share.

Courtvellle Business Solutions followed with 9.52 per cent to close at 46k, while Vitafoam added 5.46 per cent to close at N22.20 per share.

Nigerian stock market rises by N36billion

FTNCocoa added 5.41 per cent to close at 39k, while Seplat Energy rose 4.86 per cent to close at N755.10 per share.

On the other hand, Regence Insurance topped the day’s losers chart, shedding 4.55 per cent to close at 42k per share.

Sovereign Trust Insurance trailed 4.0 per cent to close at 24k, while Sunu Assurances fell 3.13 per cent to close at 31k a share.

Honey Well Flour Mills fell 3.03 percent to close at N3.20, while Custodian Investment lost 2.76 percent to close at N7.05 a share.

A breakdown of the activity chart shows that Transcorp led the activity chart with 35.68 million shares valued at N38.05 million.

Courtvellle Business Solutions followed with 31.79 million shares valued at N14.37 million, while Sovereign Trust Insurance traded 26.36 million shares worth N6.07 million.

Access Bank exchanged 22.20 million shares valued at N216.85 million, while FBN Holdings accounted for 18.37 million shares worth N220.18 million.

In total, the volume of shares traded closed lower with 281.59 million shares valued at N2.41 billion achieved in 3,739 deals.

This contrasted with 873.49 million shares worth N31.540 million shares traded in 4,342 deals on Thursday.

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