Nigeria stock market gains N571bn in bullish trading

Trading reopened on the Nigerian Stock Exchange (NSE) on Friday after Eid-el-Maolud celebration still on an upward trend, growing by N571 billion.

Speficially, the market capitalisation which opened at N15.386 trillion inched higher by N371 billion or 3.71 per cent to close at N15.957 trillion.

Also, the All-Share Index improved by 1,093.09 points or 3.71 per cent to close at 30,530.69 from 29,437.60 achieved on Wednesday.

A breakdown of the price movement chart shows that 43 stocks recorded price appreciation in contrast with 11 losers.

Nestle led the gainers’ table, gaining N129.20 to close at N1,421.70 per share.

Mobil followed with a gain of N17.80 to close at N196.10, while Total grew by N11 to close at N129.90 per share.

Dangote Cement garnered N4.70 to close at N160, while BUA Cement appreciated by N4.10 to close at N45.50 per share.

On the other hand, Guinness dominated the losers’ chart, declining by 55k to close at N17 per share.

NAHCO trailed with 12k to close at N2.10, while PZ Cussons dipped 10k to close at N4.45 per share.

Prestige Insurance lost 6k to close at 54k, while Ecobank Transnational Incorporated shed 5k to close at N5.65 per share.

Also, the volume of shares traded rose by 115.27 per cent with an exchange of 807.81 million shares valued at N10.50 billion in 8,113 deals.

This was against a turnover of 375.25 million shares worth N4.63 billion achieved in 5,947 deals on Wednesday.

The banking stocks remained investors delight with United Bank for Africa emerging the most active stock exchanging 108.55 million shares valued at N816.69 million.

Access Bank followed with 94.74 million shares worth N746.94 million, FBN Holdings traded 89.55 million shares valued at N581.46 million.

Zenith Bank traded 75.23 million shares worth N1.65 billion, while Guaranty Trust Bank exchanged 56.22 million shares valued at N1.80 billion.