Nigeria’s stock market ended the week on a positive note, adding ₦405 billion in value as investors extended the recent rally.
Market capitalisation rose 0.25 per cent to ₦159.558 trillion, up from ₦159.153 trillion at Thursday’s close.
The All-Share Index also advanced by 604.22 points, gaining 0.25 per cent to finish at 246,992.44, compared with 246,388.22 in the previous session.
The latest increase pushed the market’s year-to-date return to 58.72 per cent.
29 Stocks Advance
Despite the overall gain, market breadth remained negative.
A total of 26 stocks recorded price increases, while 31 stocks declined.
Industrial and Medical Gases posted the strongest gain, rising 9.97 per cent to ₦30.70 per share.
Other notable gainers included:
- Juli: +9.66% to ₦6.55
- University Press: +9.09% to ₦5.00
Red Star Express, Haldane McCall Lead Decliners
The downside was led by Red Star Express and Haldane McCall, with both stocks falling 10 per cent to close at ₦13.95 and ₦3.60 respectively.
Other major decliners were:
- Nigerian Breweries: -9.93% to ₦82.45
- John Holt: -9.89% to ₦10.00
- Daar Communications: -9.68% to ₦1.70
The session’s mixed performance shows that the headline market gain was driven by advances in selected stocks despite broader selling pressure.
Trading Activity Surges
Market activity increased sharply during Friday’s session.
Total volume jumped 416.66 per cent to 2.24 billion shares, while transactions worth ₦73.41 billion were executed across 42,709 deals.
Fortis Global Insurance dominated trading volume, accounting for 1.45 billion shares, or 64.85 per cent of total volume.
On the value side, Seplat Energy led the market with transactions worth ₦32.24 billion, representing 43.91 per cent of the day’s total value traded.
Week Ends on Stronger Footing
The latest advance leaves the equities market firmly in positive territory for the year, even as the negative market breadth suggests that gains were not broadly distributed across listed stocks.
For investors, the combination of a rising index, stronger market capitalisation and a sharp jump in trading activity points to a busy end to the week, with attention now turning to whether the rally can maintain its momentum in the sessions ahead.
Source: NAN
Disclaimer: This article is for informational purposes only and should not be considered investment or financial advice. Market prices and conditions can change without notice. Readers should conduct their own research and consult a qualified financial adviser before making investment decisions.