Stock market closes week on positive note, gains N948bn
By Taiye Olayemi
The equities market sustained its positive momentum throughout the week, closing with N948 billion gain.
The performance was driven by sustained buying interest in stocks like UAC of Nigeria, BUA Cement, Beta Glass, Legend Internet Plc and 30 other stocks.
Market capitalisation rose by N948 billion, or 1.07 per cent, to close at N88.372 trillion, up from N88.424 trillion recorded on Thursday.
Similarly, the All-Share Index (ASI) rose by 1,399.53 points, or one per cent, settling at 141, 263.05 from its previous close of 139,863.52.
However, the market breadth closed negative with 35 gainers and 34 losers.
On the flip side, Champion Breweries dropped by 10 per cent, finishing at N12.51 while Dangote Sugar also fell by 10 per cent, closing at 66.15 per share.
Oando Plc declined by 10 per cent, ending the session at N53.10 and Cornerstone Insurance shed by 9.78 per cent, settling at N4.15 per share.
Similarly, Abbey Mortgage Bank lost by 9.76 per cent, closing at N5.27 per share.
On the advancers’ chart, UACN gained by 9.96 per cent, settling at N88.30 while BUA Cement rose by 9.63 per cent, closing at N148 per share.
Veritas Kapital climbed by 9.45 per cent, finishing at N1.39 and Beta Glass soared by 9.22 per cent, ending the session at N408.50 per share.
Also, Legend Internet increased by 8.84 per cent, closing at N6.40 per share.
A total of 1.08 billion shares worth N26.85 billion were exchanged across 34,488 transactions.
This is in contrast with 1.11 billion shares valued at N33.65 billion that was traded across 37,370 transactions earlier on Thursday.
Transactions in the shares of First City Monument Bank topped the activity chart with 277.21 million shares worth N2.84 billion.
Fidelity Bank followed with 85.6 million shares valued at N1.80 billion while Sterling Nigeria traded 58.37 million shares worth N396.75 million.
Universal Insurance sold 44.72 million shares valued at N32.77 million and Veritas Kapital Assurance transacted 41.54 million shares worth N57.18 million. (NAN) (www.nannews.ng)
Edited by Olawunmi Ashafa
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