Blue chip stocks up Nigerian market index by 0.83%

Trading closed positive on Friday at the floor of the Nigerian Exchange Limited, as the All-Share Index appreciated by 0.83 per cent to close at 38,212.01 points, while the market capitalisation rose to close at N19.92tn.

Following renewed bargain hunting on blue chip stocks, investors gained N163.38bn.

The year-to-date loss of the ASI moderated to 5.11 per cent, even as the stocks of 23 companies rose against 15 companies that declined.

Bellwethers stocks such as Seplat Energy, Dangote Cement, Zenith Bank, Access Bank and United Bank for Africa were the toast of investors as their share prices increased by 1.45 per cent, 4.03 per cent, 0.10 per cent, 0.10 per cent and 0.10 per cent respectively.

Of the five indices tracked, three closed in the green zone and two in the red.

The banking, oil and gas and industrial indices rose by 0.73 per cent, 0.73 per cent and 2.02 per cent, while the insurance and consumer goods indices contracted by 0.68 per cent and 0.01 per cent respectively.

Trading was weak, as total deals and value of stock traded fell. At the close of the day’s trading, the total volume of stocks appreciated by 1.82 per cent to 209.19m units valued at N2.01bn in 3,240 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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