Positive Finish for Domestic Bourse as All-Share Index Gains 2.88% on Friday

The local stock market concluded the week on a positive note on Friday, witnessing the exchange of 844.49 million shares valued at N15.04 billion across 15,255 deals.

In response to this, the All-Share Index experienced a notable increase of 2.88%, equivalent to 2651.2 points, settling at 94,538.12 compared to Thursday’s close of 91,896.97. Similarly, market capitalization, which commenced at N50.289 trillion, closed at N51.735 trillion, marking a gain of N1.45 billion or 2.88% for investors. Consequently, the Year-to-Date (YTD) return climbed to 26.43%. The market’s positive momentum throughout the week was driven by sustained buying interests in key sectors, including Dangote Cement, BUA Cement, MTN Nigeria, and tier-one banks.

In the volume of activity, Transcorp took the lead, trading 80.32 million units valued at N151.95 million, followed by Veritas Kapital with 80.07 million units valued at N59.63 million. Fidelity Bank recorded a trade of 60.54 million units valued at N785.11 million, while Jaiz Bank and UBA traded 36.32 million units valued at N131.77 million and 34.85 million units valued at N1.08 billion, respectively.

On the gainers’ side, BUA Cement and Seplat Energy led with a 10% increase. BUA Cement closed at N148.50, and Seplat Energy closed at N2541 per share. May and Baker Nigeria followed closely with a 9.99% increase to close at N8.26. Dangote Cement and Honeywell Flour Mills also appreciated by 9.98% and 9.96%, respectively, closing at N538.80 and N5.85 per share.

In contrast, LASACO Assurance topped the losers’ list with a 9.85% decline, closing at N2.47, followed by C&I Leasing with a 9.82% drop to close at N3.95 per share. Mutual Benefits Assurance, NAHCO, and PZ Cussons also experienced declines of 9.41%, 9.38%, and 9.31%, respectively, closing at 77k, N33.80, and N35.55 per share.

Despite the positive market performance, the breadth closed negative, with 35 declining issues outnumbering 33 advancing ones. An analysis of market activities indicated a lower trade turnover compared to the previous session, with the value of transactions down by 32.67%.

Previous post Unilever Nigeria Celebrates Remarkable 51% Surge in Turnover, Reaching N97.4 Billion in 2023
Next post Tinubu Advocates Global Taxation Review at G-77 Summit

Leave a Reply

Your email address will not be published. Required fields are marked *