Stock Market Gains N88.980, Ends Week Bullish

The Nigerian Stock market sustained its recovery Friday as the Nigerian Exchange Group (NGX) closed the week bullish and the All-Share Index and Market Capitalization appreciated170.02 index point and N88.980 billion respectively.

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The ASI appreciated by 0.43 percent to close at 39,301.82 basis point, having opened trading for the session at 39,131.80 basis point, while the market capitalisation jumped to N20.568 trillion from N20. 479 trillion, also representing a 0.43 percent growth.

The Equities market was largely impacted by the rise in the value of Sovereign Trust Insurance Plc , Stanbic IBTC Bank, Tripple Gee and Company Plc, Academy Press and Regency Assurance Plc.

The day’s transaction saw the stock market turnover increasing by 25.83 percent, as 287. 038 million shares worth N 3,038 billion in 3,578 deals as against 228. 111 million shares valued at N 2. 635 billion in 3,656 deals bought and sold by investors on Thursday.

The market breadth was massively positive with Nine laggard equities as against 32 stocks advancing.

The gainers’ table was dominated in percentage terms by Tripple Gee, surging by 9.23 percent to close at N0. 71 Kobo per share.

Sovereign Trust Insurance and Stanbic IBTC Bank rose by 8.70 percent to close at N0. 25 Kobo and N50 per share respectively.

Also, Academy Press Plc jumped 8.11 percent to close at N0. 40 Kobo per share, while Regency Assurance Plc climbed 8 percent to close at N0. 27 Kobo per share

Conversely, the laggard’s log was led in percentage parameters by Union Dicon Salt Plc, losing 9.59 percent to close at N9. 90 Kobo per share.

Linkage Assurance dipped 4.76 percent to close at N0. 80 kobo per share, while Cornerstone Insurance Plc Plc declined 3.70 percent to close at N0. 52 Kobo per share.

FTN Cocoa Plc fell by 2.50 percent to close at N0. 39 Kobo per share, while Northern Nigeria Flour Mills Plc completed the top five losers’ table when it shed 0.83 percent to close at N5. 95 Kobo per share.

Access Bank was the most active stock in volume terms, trading 46.788 million shares valued at N351. 758 million, while Guaranty Trust Bank closed trading as the most valuable equity at N1.333 billion.

SOURCE