Mobil Lifts Stock Market as Investors Gain N88b

By Dipo Olowookere

The Nigerian stock market recorded its first gain of the week on Friday with Mobil leading the advancers’ chart at the close of business.

The local bourse appreciated by 0.56 percent, pushing the year-to-date (YtD) to 14.46 percent when market activities were brought to an end.

The All-Share Index (ASI) garnered 244.70 points to settle at 43,773.76 points, while the market capitalisation increased by N87.7 billion to close N15.692 trillion.

Mobil, which led the top gainers’ table, rose by N7 to close at N216 per share, while Nigerian Breweries, which followed, added N3.63k to its share value to finish at N151.75k per share.

NASCON grew by 99k to end at N20.83k per share, Dangote Flour advanced by 83k to settle at N15.95k per share, and FBN Holdings appreciated by 63k to close at N13.63k per share.

On the flip side, Guinness Nigeria lost N4.10k to close at N112 per share, while Conoil depreciated by N2.6k to end at N39.32k per share.

GTBank went down by 87k to finish at N49 per share, Red Star Express declined by 28k to settle at N5.51k per share, while FIDSON fell by 22k to close at N4.46k per share.

During the trading day, the volume of shares traded by investors increased by 88.65 percent, while the value rose by 7.41 percent.

A total of 944.9 million equities worth N7.1 billion were exchanged by investors in 8,166 deals versus 500.9 million shares traded in 6,002 deals valued at N6.6 billion.

The Financial Services sector led the activity chart with 801.257 million shares exchanged for N5 billion, while the Consumer Goods sector sold 65 million shares worth N1.6 billion.

FCMB emerged the most traded equity on the floor of the Nigerian Stock Exchange (NSE), exchanging a total of 193 million units worth N554.7 million.

Diamond Bank, which followed, transacted 133.6 million shares worth N341.5 million, and Skye Bank, which sold 83.8 million shares valued at N100.5 million.

Wema Bank traded 57 million shares for N60.6 million, while FBN Holdings exchanged 53 million shares valued at N718 million.