Nigerian Stocks Close Week High with 0.02% Rise

By Modupe Gbadeyanka

Trading on the floor of the Nigerian Stock Exchange (NSE) closed for the week on Friday on a high note with the major market indices hibernating in the green territory.

Though the market recorded a slight increase, it was enough to give investors the needed confidence to return to the market for better outcome next Tuesday, when activities are expected to resume due to a public holiday on Monday, May 1, to celebrate workers’ day.

The All-Share Index appreciated by 5.51 points to close at 25,758.51 points, while the market capitalisation increased by N1.9 billion to end at N8.912 trillion.

The volume of shares traded on the floor of the stock exchange slightly dropped on Friday compared with what was transacted the previous day, though the valued closed higher.

A total of 366.5 million shares were exchanged by investors in 3,598 deals today worth N2.88 billion in contrast to 371.8 million shares transacted on Thursday in 3,627 deals valued at N2.81 billion.

Lafarge topped the gainers’ log with a gain of N2.42k to close at N50.92k per share, trailed by Nestle, which rose by N1.50k to finish at N727 per share.

Stanbic IBTC advanced by N1.25k to end at N26.25k per share, NASCON progressed by 78k to close at N8.49k per share, while Ashaka Cement appreciated by 49k to finish at N10.44k per share.

However, Julius Berger led the losers’ table with a slump of N2.9k to finish at N39.86k per share, followed by Dangote Cement, which depreciated by N1 to end at N159 per share.

First Bank Holding came third with a decline of 33k to close at N3.17k per share, with Unilever finish fourth after dropping by 24k to end at N31.81k per share and Nigerian Breweries came fifth after going down by 21k to close at N123.1k per share.

The Financial Services sector led the activity chart measured by volume with Access Bank, Fidelity Bank, Zenith Bank, First Bank and Diamond Bank topping in that order.