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Nigerian Stocks Extend 6-Day Gain by 0.26%

By Modupe Gbadeyanka

The Nigerian stocks performed great again on Friday on the floor of the Nigerian Stock Exchange (NSE), closing the 4-day trading week on a positive week.

Business Post reports that it is now the sixth consecutive days the stock market in Nigeria is closing in the green zone.

The stock market recorded a growth of 0.26 percent at the end of trading activities on Friday with investors gaining N24 billion.

Our correspondent reports that the market breadth equally closed very positive today with a total of 27 advancers compared with seven decliners.

Furthermore, the All-Share Index (ASI) appreciated by 68.83 points to finish at 26,235.63 points, while the market capitalisation improved by N23.8 billion to wrap the day at N9.069 trillion and the year-to-date return dropped further to -2.38 percent from -2.63 percent on Thursday.

Seven-Up boosted the market’s outcome today with a rise of N4.44k to close at N94.69k per share, while Dangote Cement rose by 50k to finish at N159.50k per share.

GlaxoSmithKline improved by 46k to end at N14.55k per share, Newrest ASL Nigeria Plc progressed by 45k to finish at N4.97k per share and Oando advanced by 34k to close at N7.17k per share.

On the contrary, Nigerian Breweries suffered a loss of 70k to close at N127.30k per share, while Stanbic IBTC dropped 31k to finish at N24.50k per share.

Presco fell by 25k to end at N47 per share, Champion Breweries declined by 21k to finish at N2.14k per share and MedView Airline depreciated by 7k to close at N1.43k per share.

Business Post correspondent reports also that investors traded a total of 442.8 million shares on Friday worth N2.96 billion executed in 4,220 deals.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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