By Taiye Olayemi
The Nigerian stock market extended its positive momentum on Friday, marking the third consecutive bullish session.
The market’s upward movement was driven by gains in equities like: Eunisell Interlinked, UPDC, Sovereign Trust Insurance, Universal Insurance, Daar Communications and 34 other stocks.
The market capitalisation increased by 0.42 per cent, adding N395 billion to investors’ portfolio as the market opened at N94.165 trillion and closed higher at N94.560 trillion.
Similarly, the All-Share Index (ASI) rose by 0.42 per cent, advancing by 622.60 points to close at 148,977.64, compared to 148,355.04 recorded on Thursday.
Also, the market breadth closed positive with 39 gainers against 23 losers.
Eunisell Interlinked led the gainers’ chart by 10 per cent, ending the session at N48.40, UPDC followed by 9.92 per cent, finishing at N6.98 while Sovereign Trust Insurance gained by 9.51 per cent, closing at N3.57 per share.
Universal Insurance rose by 9.09 per cent, settling at N1.20 and Daar Communications increased by 8.74 per cent, closing at N1.12 per share.
On the flip side, Livingtrust Mortgage Bank led the losers’ chart by 10 per cent, settling at N4.50, International Energy Insurance trailed by 8.39 per cent, closing at N2.73 and Consolidated Hallmark Holdings dipped by 6.29 per cent, finishing at N4.47 per share.
Sterling Nigeria fell by 4.88 per cent, ending the session at N7.80 while WAPIC Insurance declined by 4.55 per cent, closing at N3.15 per share.
An evaluation of the market activity revealed decline in the market deals and value with an improvement in volume.
A total of 480.99 million shares worth N16.78 billion were traded across 22,854 transactions, compared to 432.4 million shares valued at N16.9 billion that was exchanged in 23,665 deals earlier recorded.
Meanwhile, transactions in the shares of United Bank for Africa topped the activity chart in volume with 59.18 million shares valued at N2.48 billion.
Access Corporation followed with 50.39 million shares worth N1.29 billion while Fidelity Bank transacted 46.99 million shares valued at N944.02 million.
Sovereign Trust Insurance sold 34.24 million shares worth N120.86 million and Tantalizer traded 24.56 million shares valued at N54.53 million. (NAN) (www.nannews.ng)
Edited by Olawunmi Ashafa
