Investors in Nigeria’s stock market experienced a positive turn of events on Friday, as the market gained ₦91 billion, ending the week on a high note after several days of bearish runs.
Key Highlights:
- Market Capitalisation: The market capitalisation, which opened at ₦67.102 trillion, closed at ₦67.193 trillion, reflecting a gain of ₦91 billion or 0.14%.
- All-Share Index: The All-Share Index improved by 146 points, or 0.14%, to close at 107,821.39, compared to 107,675.46 posted on Thursday.
- Price Movements: On the price movement chart, 34 stocks recorded price depreciation against 26 gainers. Red Star Express led the losers’ chart, dropping by 9.96% to close at ₦6.60 per share. Conversely, Austin Laz and Company led the gainers’ chart with a 10% gain to close at ₦2.09 per share.
- Trading Volume: A total of 458.26 million shares worth ₦14.078 billion were exchanged in 12,213 transactions, compared with 423.42 million shares worth ₦9.57 billion exchanged in 11,112 transactions on Thursday.
- Top Performers: Zenith Bank maintained the lead in volume and value of deals, exchanging 122 million shares worth ₦5.9 billion.
This positive development is a welcome relief for investors who had faced more losses than gains in the past days. The market’s performance indicates a potential shift towards stability and growth.
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