By Modupe Gbadeyanka
The Nigerian equity market recorded another positive momentum on Friday with the major market indices pointing north by 1.85 percent.
Today’s growth was mainly influenced by the high performance of high-cap stocks trading on the floor of the Nigerian Stock Exchange (NSE).
At the close of trading activities today, the market capitalisation increased by N235.8 trillion to settle at N13 trillion, while the All-Share Index (ASI) rose by 677.16 basis points to close at 37,365.91 basis points.
Though the volume of equities transacted by investors on Friday significantly increased, the value depreciated.
A total of 870.6 million shares were traded today in 3,126 worth N5 billion, in contrast to 513.8 million shares exchanged in 4,243 deals valued at N6.5 billion.
The high volume of trade recorded on the floor of the NSE on Friday was buoyed by WAPIC, which sold 650.3 million units for N325.2 million.
Dangote Sugar traded 47 million shares worth N801.4 million, while Fidelity Bank transacted 22.7 million shares for N38.2 million.
Transcorp sold 22 million shares valued at N29 million, and FBN Holdings traded 21.8 million shares at N151.2 million.
The market breadth remained positive on Friday as a total of 19 price gainers were recorded at the close of business compared with 13 price losers.
Dangote Cement emerged the highest price gainer today with an addition of N10 to its price value to close at N240 per share.
International Breweries rose by N4.6k to finish at N58 per share, while Nestle increased by N3.10k to close at N1305 per share.
Flour Mills of Nigeria progressed by N2.90k to end at N35 per share, and Stanbic IBTC appreciated by N1.49k to settle at N41.99k per share.
On the other hand, NASCON topped the losers’ chart with 70k of its share valued lost to close at N15.10k per share.
It was followed by PZ Cussons, which depreciated by 42k to finish at N23 per share, and Access Bank, which went down by 23k to settle at N9.77k per share.
May & Baker declined by 10k to end at N2.70k per share, while Continental Reinsurance suffered 4k loss to close at N1.34k per share.
