Trading on the Nigerian stock market closed bullish on Friday, ending the week with a N3.156 trillion gain for investors.

This was driven by renewed investor interest in banking, telecommunications, and oil and gas stocks.

The market capitalisation closed at N147,102 trillion from an opening of N143.946 trillion, representing a 2.19 per cent gain.

Similarly, the All-Share Index gained by 2.19 per cent or 4,918.37 points from 224,321.97 to 229,240.34.

While the market’s Year-to-Date (YTD) return improved to 47.31 per cent, the market breadth closed positive, recording 39 gainers and 14 losers.

Airtel Africa, The Initiates, Omatek Ventures, Daar Communications and Universal Insurance led the gainers’ chart by 10 per cent each, closing at N5,274, N25.85, N1.76, N1.65 and 88k per share, respectively.

Conversely, International Energy Insurance led the losers’ chart by 9.96 per cent, settling at N4.70.

Meyer trailed by 9.95 per cent, ending the session at N18.55, while Fortis Global Insurance dropped by 9.80 per cent, finishing at N3.22 per share.

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Also, Sovereign Trust Insurance dipped by 5.34 per cent, closing at N1.95, and Veritas Kapital Assurance shed by 5.07 per cent, settling at N1.31 per share.

Market activity slowed during the session as trading volume fell by 46.82 per cent to 454.92 million shares, worth N27.61 billion in 48,214 deals.

Zenith Bank led the activity chart by volume with 49.78 million shares traded, representing 10.94 per cent of the total volume.

The stock also recorded the highest traded value at N5.16 billion, accounting for 18.70 per cent of the market’s total value.

(NAN)

Nigeria Stock Market Closes Week With Big Gains for Investors

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