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Equity Market Recover as Indices Increase by 0.09%

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The market capitalization of the Nigerian stock exchange increased by N24 billion, or 0.09 percent, on Friday to end at N25.909 trillion, up from N25.885 trillion on Thursday.

In a similar vein, the All Share Index increased to 47,569,04 from 47,524.38 on Thursday by 44.66 points, or 0.09 percent.

Gains in major capitalized stocks, like MTN Nigeria, Airtel Africa, and Seplat, had an impact on the upturn.

“Another solid excursion today, this time with improvement in market mood,” analysts at Vetiva Securities Ltd. remarked. Next week’s trading sessions are still going to be cautious, although more selective trading is probably in sight.

14 equities rose in value while just 8 decreased as market breadth closed in a favorable direction.

With a gain of 9.86% to close at N2.34 per share, Honeywell Flour Mill took the top spot on the gainer’s table.

Following WAPIC Insurance, which increased by 9.38% to close at 35k, Sovereign Trust Insurance increased by 7.69% to close at 28k per share.

The share price of Livestock Feeds increased by 6.39 percent to N1.17. The share price of Guaranty Trust Holding Company (GTCO) increased by 5.60% to N17.90.

Academy Press, on the other hand, headed the list of losers, falling 9.66% to settle at N2.34 per share.

Red Star Express fell by 6.09 percent to conclude at N2.16 while Chams lost 7.14 percent to close at 26,000.

Nigerian Breweries also lost 4.03 percent of its value, closing at N46.45 per share. FTN Cocoa Processors decreased by 3.51% to close at 27,000.

Analysis of today’s market activity revealed that trade turnover settled at a greater level than it had during the previous session, with the total value of transactions rising by 104%.

In a total of 3,101 transactions, 123.43 million shares worth N4.27 billion were exchanged.

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