The Nigerian equities market sustained its bullish trajectory on Friday, gaining N3.393 trillion as strong gains recorded in the heavyweight stocks drove a rally across key sectors.
The market maintained a steady upward trend in the last five trading days, reflecting renewed investor confidence and continued portfolio repositioning into fundamentally sound companies.
This growth resulted in the market capitalisation of listed equities appreciating by 2.49 per cent to N139.828 trillion from N136.435 trillion reported on Thursday.
The NGX All Share Index also increased by 5266.55 basis points to 217167.57 points from 211901.02 points reported the previous day.
The positive performance during the day was driven by gains in MTN Nigeria; Dangote Cement; United Bank for Africa; Nahco; ETI; Zenith Bank; FirstHoldco; Aradel Plc.; Access Holdings Company, and other 35 companies.
The market breadth was positive with 44 gainers against 26 decliners, bringing the year- to-date return to 39.56 per cent.
An analysis of the trading for the day showed that Trans Express and Nahco led the gainers’ table with 10 per cent each to close at N6.05 and N220.00 per unit, respectively.
Ecobank Transnational incorporated followed with a gain of 9.97 per cent to close at N67.30 per unit; Access Holdings Company added 9.93 per cent to close at N29.90 per share; Daar Communications increased by 9.64 per cent to close at N1.82 per unit.
On the contrary, Mecure topped the losers’ chart, dropping by 9.96 per cent to close at N60.60 per share; Honey Well Flour trailed by 9.52 per cent to close at N19.00 per share; Abbey Building Society declined by 9.50 per cent to close at N8.10 per unit; Etranzact fell by 9.27 per cent to close at N18.60 per share; Caverton Business Solutions went down by 9.02 per cent to close at N5.55 per unit.
The volume of trades increased by 543.608 million shares, representing 76.96 per cent as investors traded 1.258 billion shares against 706.392 million shares recorded the previous day.
The value of transactions grew by 29.79 per cent to settle at N54.353 billion.
Transactions on the shares of Sterling Bank led market activities with 383.846 million shares valued at N3.067 billion; Access Holdings Company followed with account of 90.258 million shares cost N2.648 billion; Zenith Bank Exchanged 70.758 million shares cost N8.841 billion; United Bank for Africa exchanged 54.585 million shares cost N2.625 billion; Japaul Gold traded 44.440 million shares worth N146.366 million.
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