Nigeria’s equities market heading for fifth straight weekly gain

Amid sustained bargain hunting activities, Nigerian Stock Exchange All-Share Index rose by 0.57 per cent to close at 41,169.41 to register its fourth straight weekly gain.

Similarly, market capitalisation rose by 0.83 per cent or N124.86bn and closed the day trading session with N22.06tn.

The NSE printed 28 gainers as against 21 losers with the year-to-date gain of the NSE ASI rose to 4.71 per cent.

The toast of investors were Stanbic IBTC Holdings Plc, Julius Berger Nigeria Plc, Nigerian Breweries Plc, Lafarge Africa Plc, and Zenith Bank Plc.

The sectoral performance was bullish as three out of the five indices tracked closed in green. The indices, banking, consumer goods, and industrial rose by 2.11 per cent, 0.94 per cent and 0.21 per cent.

In contrast, the insurance and oil and gas indices fell by 0.56 per cent and 1.75 per cent.

Activities in the market were mixed as total deals and value of stocks traded fell by 5.67 per cent and 21.28 per cent to 6,386 deals and N5.76bn, respectively.

However, the volume of stocks traded rose by 2.16 per cent to 0.55bn units.

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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