Nigerian banks, other firms push NGX to N1.077tn
Nigerian banks and firms pushed the Nigerian stock market to a N1.077 trillion gain on Friday as investors experienced unprecedented gains throughout the week.
The Nigerian Exchange Limited data showed that the gain on Friday was due to increased investor demand for banking stocks like First Bank Holding Company, United Bank for Africa, FCMB, Guinness Nigeria, Cadbury Nigeria, NEM Insurance, and other firms.
To this end, market capitalisation increased 1.37 percent on Friday to close at N79.803 trillion, up from N78.726 trillion recorded on Thursday.
Similarly, the All-Share Index, ASI, rose by 1,702.79 points, or 1.37 percent, settling at 126,149.59 from its previous close of 124,446.80.
Consequently, the market breadth closed positive, with 62 gainers and 25 losers.
On the gainers table, Guinness Nigeria led, soaring by 10 percent, closing at N96.80.
Similarly, Cadbury Nigeria also gained by 10 percent, finishing at N60.50 per share.
NEM Insurance rose by 10 percent, settling at N22.00, and Consolidated Hallmark Holdings also grew by 10 percent, ending the session at N3.63 per share.
Red Star Express increased by 9.98 percent, closing at N13.44 per share.
Meanwhile, on the flip side, Learn Africa shed 8.66 percent, settling at N6.01, while Tantalizer dropped by 6.25 percent, closing at N3.00 per share.
Prestige lost 6.02 percent, ending the session at N1.25, and Regalins fell by 5.62 percent, finishing at 84k per share.
Similarly, Oando Plc declined by 4.61 percent, closing at N51.70 per share.
At the end of business on Friday, A total of 1.39 billion shares worth N30.55 billion were traded across 33,399 transactions, compared to 1.3 billion shares worth N27.73 billion that were exchanged across 27,875 transactions earlier.
Transactions in the shares of Access Corporation led the activity chart with 172.92 million shares worth N4.16 billion.
Ellah Lakes followed with 144.9 million shares valued at N1.82 billion, while Ja Paul Gold sold 138.74 million shares worth N498.76 million. Also, United Bank for Africa transacted 73.03 million shares valued at N3.15 billion, and AIICO Insurance traded 60.68 million shares worth N135.71 million.
Nigerian banks, other firms push NGX to N1.077tn
