Trading on the floor of Nigerian Stock Exchange on Friday maintained a growth profile, appreciating by N793 billion as the growth recorded by highly capitalised stocks lifting market activities.
The growth trend showed investors’ confidence in the local stocks despite global economic headwinds and rising local interest rates.
The market capitalisation of listed equities increased by 0.94 per cent to N85.055 trillion from N84.262 trillion reported on Thursday.
Its positive performance was driven by gains in the shares of Dangote Cement, MTN Nigeria, Okomuoil, Oando Plc Zenith Bank Presco among others.
The market breadth was positive with 48 advancers against 26 decliners, pushing year to date return to N30.63 per cent.
Its NGX All Share Index also increased by 1251.94 basis points to 134452.93 points from 133199.99 points recorded on Thursday.
The volume of trades declined by 104667 million, representing 12.79 per cent as investors traded 713.720 million shares valued at N24.234 billion in 24880 deals against 818.387 million shares worth N22.665 billion exchanged hands the previous day in 22955 deals.
An analysis of the investment showed that Champion Breweries, Ikeja Hotel, and Unilever Nigeria Plc led the gainers’ table, appreciating by 10 per cent each, to close at N12.32, N23.10 and N68.20 per unit, respectively; Enamelware followed with a gain of 9.98 per cent to clean SE at N27.00, TIP added 9.95 per cent to close at N16.12 per unit.
On the contrary, Triple G topped the losers’ chart, dropping by 10 per cent to close at N3.51 per share; Tantalizer trailed with a loss of 8.55 per cent to close at N2.46 per share; SUNU Assurance fell by 6.64 per cent to close at N4.64 per share; Ecobank Transnational incorporated dipped by 5.88 per cent to close at N32.00; Neimeth international Pharmaceutical dropped by 4.55 per cent to close at N6.50 per share.
Transactions in the shares of Access Holding led the market activities with 42.422 million shares valued at N1.180 billion; Universal insurance followed with account of 40.688 million shares worth N29.719 million; Tantalizer traded 32.198 million shares cost N83.125 million; GTCO Plc exchanged 28.705 million shares cost N2.698 billion, while EllahLakes traded 26.343 million shares worth N260.457 million.