Nigerian Stocks Bounce Back with N181b Gain

Stocks Depreciate

By Dipo Olowookere

Transactions at the Nigerian stock market ended on Friday on a positive note with investors smiling with N180.8 billion gain at the close of trading activities.

Unlike yesterday, when the All-Share Index (ASI) went down by 1.56 percent, it rose today by 1.32 percent after gaining 502.38 points to close at 38,436.08 points.

The market capitalisation on Friday appreciated by N181 billion to settle at N13.678 trillion, while the Year-to-Date (YtD) return closed at 43.02 percent.

Business Post reports that the volume and value of equities transacted today recorded significant rise with investors trading a total of 425.3 million shares worth N9.2 billion in 4,104 deals against the 289.3 million equities valued at N6.2 billion exchanged yesterday in 4,617 deals.

Zenith Bank emerged the most traded stock, trading 127.9 million shares for N3.3 billion, and was followed by GTBank, which sold 73.4 million shares for N2.9 billion.

Dangote Sugar exchanged 55.9 million shares valued at N1.2 billion, FBN Holdings traded 34.6 million shares at N302.4 million, while Diamond Bank transacted 20.7 million shares worth N29.9 million.

On the price movement chart, Dangote Cement topped the gainers’ log, appreciating by N10 to settle at N240 per share.

Nigerian Breweries grew by N3.50k to close at N142.50k per share, while Presco increased by N1.17k to finish at N66.17k per share.

Guinness Nigeria added N1 to its share value to end at N96 per share, and Zenith Bank expanded by 71k to close at N25.70k per share.

On the flip side, Okomu Oil emerged the highest price loser, depreciating by N3.75k to close at N71.25k per share.

It was followed by Lafarge, which lost 99k to close at N43.1k per share, and Cadbury Nigeria, which went down by 77k to finish at N14.77k per share.

Unilever declined by 50k to close at N40.20k per share, while Dangote Flour shed 45k to finish at N11.80k per share.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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