By Modupe Gbadeyanka
Gains recorded by stocks in the consumer goods sector rescued the local bourse from bears, ensuring that trading for the day and week closed on a positive note.
The Nigerian Stock Exchange (NSE) had shed N167 billion yesterday following loses recorded by oil stocks led by Total Plc and Mobil Plc.
But the market rebounded on Friday, closing 0.19 percent higher mainly influenced by gains in the shares of International Breweries, Nigerian Breweries, Stanbic IBTC, Flour Mills of Nigeria and Dangote Sugar.
However, financial stocks attracted attention of investors today with Unity Kapital emerging the most active, trading 231.4 units at N115.7 million.
It was followed by Access Bank, which transacted 39.8 million shares worth N403.3 million, and Fidelity Bank, which exchanged 17.2 million shares valued at N22.4 million.
Furthermore, GTBank sold 12 million shares worth N485.7 million, while Diamond Bank transacted 9.6 million shares valued at N11.5 million.
In all, a total of 422.5 million shares exchanged hands on the floor of the NSE on Friday worth N3.3 billion executed in 3,618 deals.
Business Post reports that International Breweries led the gainers’ chart today after adding N2.50k to its share value to settle at N37 per share.
It was closely followed by Nigerian Breweries, which rose by N2 to end at N190 per share, and Stanbic IBTC, which advanced by N1.49k to finish at N40 per share.
Flour Mills of Nigeria grew by N1.42k to settle at N29.94k per share, while Dangote Sugar appreciated by 60k to close at N13.65k per share.
On the flip side, Mobil emerged the heaviest loser, dropping N10.57k to settle at N192.55k per share, and was followed by Unilever, which lost N1.50k to close at N41.30k per share.
Dangote Cement fell by 56k to end at N216 per share, Guinness Nigeria slumped by 50k to finish at N81.50k per share, while NASCON also depreciated by 50k to end at N13 per share.
At the close of trading activities on the floor of the NSE on Friday, the market capitalisation increased by N24 billion to settle at N12.63 trillion, while the All-Share Index (ASI) added 70.60 points to finish at 36,646.46 points.
Investors are upbeat the when the stock market resume for trading activities next Monday, the bulls would maintain its grip on the market.
