Stock Market: Investors Gain N27b on Friday

By Modupe Gbadeyanka

Investors in the country’s stock market recorded a gain of N27 billion on Friday, extending the market’s upward trend to three consecutive days.

It was observed that the major market indicators finished in the green zone today, including the all-share index, which added 78.51 points or went up by 0.31 percent to close at 25,817.69 points, as well as the market capitalisation, which grew by N27 billion to end at N 8.883 trillion.

In addition, a turnover of 108.5 million shares worth N1.64 billion in 2,512 deals were traded on Friday by investors on the floor of the Nigerian Stock Exchange (NSE).

Also at the market today, a total of 22 equities appreciated in price, 11 stocks retained their prices, while 14 equities suffered losses in their price.

The Financial Services sector of the NSE dominated the top five most traded equities on Friday in terms of volume.

While Diamond Bank occupied the top spot with 23.6 million shares sold at N20.1 million, Transcorp Hotel occupied the second place with 15.1 million units traded at 12.9 million.

Access Bank, FCMB and First Bank are the other equities that occupied the chart.

Business Post correspondent reports that Forte Oil led the gainers’ table on Friday with a gain of N9.86k to close at N106.23k per share, while Nigerian Breweries trailed after going up by N2.95k to finish at N145 per share.

In the same vein, Okomu Oil rose by N1.99k to close N40 per share, 7UP went up by 64k to end at N130 per share and Ecobank appreciated by 34k to finish at N9.94k per share.

On the contrary, Seplat lost N2.90k to close at N340 per share, Presco Oil fell by N2.20k to end at N41.87k per share, Mobil declined by N2.15k to close at N305 per share, Lafarge sank by N2.8k to end at N38.82k per share and Unilever depreciated by N1 to finish at N45 per share.

Market activities are expected to resume next Tuesday due to the public holiday declared by the Federal Government for Monday to mark Eid-El-Maulud, a day set aside to celebrate the birth of Prophet Mohammed.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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