Nigerian stocks closed the week strong gaining N584bn
The Nigerian stock market closed the week with a strong performance, as equities investors gained N584 billion.
Even as the Market Capitalization grew by N584 billion on Friday, the market All-Share Index recorded a 1.68 per cent gain to close at 65,003.39 from the opening value of 63,930.72 points.
A total of 770.80 million shares valued at N14.26 billion changed investors hands in 8,915 deals
The stock market closed with a mixed performance as GTCO led the gainers with a 10% increase in its share value. ACADEMY, however, suffered the biggest decline of 9.88%. UBA was the most traded stock, with the highest volume of shares transacted at the close of the market.
The trading activity in the market showed a moderate improvement, as the volume of transactions rose to 8,915 deals from the previous figure of 7,403 deals.
Three listed companies stood out in the market today with a 10% increase in their share prices. These were GTCO, STANBIC and JAIZBANK, which demonstrated remarkable performance and resilience in a volatile environment.
The market’s performance suffered due to the decline in the share value of some significant players.
The worst performers were ACADEMY, ABBEYBDS, and CORNERST, with losses of 9.88%, 9.68%, and 9.43%, respectively.
Trading activity declined in the market on Friday, as the total value of shares traded increased to N14.26 billion. This was a N3.81 billion decrease from the N18.07 billion recorded on Thursday.
The market report shows the performance of the major sectors and indicators.
A significant drop in trading volume was observed in the market, with only 770.80 million shares exchanged.
This was a 43.32% decrease from the previous day’s 1.36 billion shares, resulting in a difference of 589.2 million shares traded in the market.
UBA, ACCESSCORP and ZENITHBANK were the most traded equities on the stock market today, accounting for the highest volumes of shares among all listed companies. The total number of shares traded by these stocks was 11.21 million, 88.03 million, and 73.35 million units, respectively.
