Nigerian stock market extends rally as investors gain N112 billion


Nigerian bourse extended its positive rally at Friday’s trading session, appreciating further by N112 billion, amid increased buying interest.

Specifically, the market capitalization inched higher by 0.52% to close at N21.530 trillion from N21.418 trillion on Thursday.

In the same vein, the All-Share Index garnered 0.52% to close at 41,176.14 compared with 40,963.14 on Thursday.

The uptrend was driven by price appreciation in large capitalized stocks among which are; UACN, Flourmill, MTN Nigeria Communications, NB and PRESCO.

Consequently, the market breadth remained positive with 42 gainers relative to 12 losers. UACN (+10.00%) led the gainer’s chart today, while ARDOVA (9.84%) was the top loser.

Also, the total volume of shares transacted improved with an exchange of 666.60 million shares worth N6.39 billion in 6,980 deals.

JAPAULGOLD was the most traded shares by volume with 115.8million units, while GTBank and ACCESS topped by value at N1.27b and N461 respectively.

UACN led the gainers table, appreciating by 10.00% to close at N8.25, followed by Flourmill which went up by 9.33% to close at N32.8.  NB up 3.36% to close at N60, while PRESCO and MTN shares went up by 2.78% and 1.19% to close at N74 and N170 respectively.

ARDOVA dropped 9.84% to close at N19.7, while MAYBAKER went down by 5.71% to close at N3.63. Sterling Bank shares drop by 1.9% to close at N2, while Zenith Bank and Unilever shares went down by 0.38% and 0.37% to close at N26.3 and N13.45.