Lagos: The Nigerian stock market closed the week on a positive note on Friday as investors gained N824 billion. This was the fourth positive market performance in the week, following a week of uptrend in the previous week. Market capitalisation surged by 1.00 per cent to reach N83.241 trillion, up from N82.417 trillion recorded on Thursday. Similarly, the All-Share Index (ASI) rose by 1,301.79 points, or 1.00 per cent, settling at 131,585.66 from its previous close of 130,283.87.
According to News Agency of Nigeria, this uptrend was fueled by strong buying interest in medium and large-capitalised stocks, including Learn Africa, NCR Nigeria, UPDC, Ellah Lakes, BUA Cement, and 41 other stocks. The market breadth closed positive, with 46 gainers and 25 losers. NCR Nigeria led the gainers’ chart by 10 per cent, ending the session at N6.60, while Learn Africa also increased by 10 per cent, closing at N6.27 per share. UPDC soared by 10 per cent, settling at N4.84, and Ellah Lakes rose by 9.98 per cent, finishing at N10.80 per share. BUA Cement gained by 9.98 per cent, closing at N123.40 per share.
On the downside, Red Star Express declined by 9.97 per cent, settling at N12.92, while Union Dicon Salt dropped by 9.62 per cent, ending the session at N10.80 per share. Academy shed 6.67 per cent, finishing at N7.00, and Sterling Nigeria lost 4.34 per cent, closing at N6.17 per share. Similarly, First Bank Holding Company fell by 4.10 per cent, settling at N33.95 per share.
The trading session saw 3.35 billion shares worth N62.39 billion exchanged across 28,593 transactions. This was in comparison to 1.19 billion shares worth N42.76 billion that were traded across 37,418 transactions earlier on Thursday. Transactions in the shares of First City Monument Bank topped the activity chart with 1.31 billion shares worth N12.63 billion. Fidelity Bank followed with 1.15 billion shares valued at N23.04 billion, while Access Corporation transacted 113.8 million shares worth N3.07 billion. CHAMS sold 92.62 million shares valued at N293.87 million, and Zenith Bank traded 50.7 million shares worth N3.66 billion.