Nigerian equities ended the week on a stronger footing, adding N405 billion in market value as renewed buying interest pushed the market higher on Friday.
Market capitalisation increased by 0.25 per cent, rising to N159.558 trillion from N159.153 trillion at the previous session.
The benchmark All-Share Index (ASI) also climbed by 604.22 points, representing a 0.25 per cent gain. The index closed at 246,992.44, compared with 246,388.22 recorded on Thursday.
The latest advance pushed the market’s year-to-date return to 58.72 per cent, highlighting the strong performance of Nigerian equities so far this year.
26 Stocks Gain as Market Closes Higher
The positive session was supported by price gains in Abbey Mortgage Bank, Royal Exchange, Nigerian Breweries, John Holt and Daar Communications, alongside 24 other stocks.
However, the broader market picture was less convincing.
A total of 31 stocks declined, compared with 26 that recorded gains, leaving market breadth in negative territory despite the overall rise in the major market indicators.
Industrial and Medical Gases Leads Gainers
Industrial and Medical Gases emerged as the session’s strongest performer, gaining 9.97 per cent to close at N30.70 per share.
Juli followed with a 9.66 per cent increase, ending the session at N6.55, while University Press advanced by 9.09 per cent to N5 per share.
The strongest gainers were:
- Industrial and Medical Gases: +9.97% to N30.70
- Juli: +9.66% to N6.55
- University Press: +9.09% to N5.00
Red Star Express and Haldane McCall Lead Decliners
Losses were led by Red Star Express and Haldane McCall, which each fell by 10 per cent.
Red Star Express closed at N13.95 per share, while Haldane McCall ended at N3.60.
Nigerian Breweries declined by 9.93 per cent to N82.45, followed by John Holt, which dropped 9.89 per cent to N10.
Daar Communications also recorded a significant decline, shedding 9.68 per cent to close at N1.70 per share.
Trading Volume Surges 416.66%
Trading activity increased sharply during Friday’s session.
A total of 2.24 billion shares changed hands, representing a 416.66 per cent increase from the previous session.
The shares were exchanged through 42,709 deals, with the day’s transactions valued at N73.41 billion.
Fortis Global Insurance Dominates Volume
Fortis Global Insurance accounted for the largest portion of the day’s trading volume.
The company recorded 1.45 billion shares, representing 64.85 per cent of the total volume traded during the session.
In value terms, Seplat Energy led the market.
The energy company recorded transactions worth N32.24 billion, accounting for 43.91 per cent of the day’s total traded value.
Nigerian Equities End Week on Positive Note
The Friday advance gave Nigerian equities a positive finish to the week, with market capitalisation gaining N405 billion.
While the negative market breadth shows that declines outnumbered advances across individual stocks, the rise in the ASI and substantial increase in trading activity point to continued investor participation and buying interest.
With the market’s year-to-date return now at 58.72 per cent, Nigerian equities continue to deliver a strong performance despite volatility among individual counters.