Investors gain N28bn as 7up, Okomuoil, lead gainers

Trading in equities on the Nigerian Stock Exchange (NSE) closed on a positive note on Friday as investors gained N28 billion. The market capitalisation closed at N9.703 trillion from N9.675 trillion on Thursday.

NSE All Share Index (NSE ASI) recovered from previous trading session’s relapse with a growth of 0.29 per cent to close at 28,247.07 basis points from 28,166.42 basis points it opened.

Trading activities showed investors’ sentiment returned positive as market breadth closed with 22 gainers to 14 losers.

7up Plc topped the day’s advancing stocks with a gain of 7.80 per cent or N10.85 to close at N150 per share.

Okomuoil Plc followed with a growth of 5.56 per cent or N2 to close at N38 per share, Cadbury and FCMB Plc appreciated five per cent each or N0.75 kobo and N0.05 kobo respectively to close at N15.75 per share and N1.05 per share, while Flour Mill Nigeria Plc emerged the fifth top gainer adding 4.98 per cent or N0.95 kobo to close at N20.04 per share.

On the flip side, Betaglas Plc led the day’s declining stocks with a loss of 9.73 percent or N3.76 to close at N34.90 per share, followed by N Nigeria Flour Mills Plc that lost 4.96 percent or 33 kobo to close at N6.32 per share, Caveerton Plc also dropped 4.55 percent or N0.05 kobo to close at N1.05 per share, Unity Bank Plc fell 3.95 percent or N0.03 kobo to close at N0.73 kobo per share and Champion Breweries Plc depreciated 3.85 per cent or N0.10 kobo to close at N2.50 per share.

Market activity as measured by volume and value settled at 265.1 million units valued at N1.6 billion respectively, against 410 million units and N3.6 billion traded previously. The day trading recorded 3,136 deals.

The three most traded stocks were FCMB Plc with the sale of 98.8 million shares worth N99.3 million. Fidelity Bank Plc came second, trading 33.5 million shares amounting to N29.6 million while Zenith Bank Plc exchanged 19.5 million shares worth N304.8 million.