NGX closes week on positive note as investors gain N392bn

Investors in the Nigerian stock market recorded a gain of N392 billion on Friday, as trading on the Nigerian Exchange (NGX) ended the week on a positive note.

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Market capitalization rose by 0.30 percent to N131.165 trillion, up from N130.773 trillion recorded in the previous session, reflecting the N392 billion increase.

Similarly, the All-Share Index advanced by 608.62 points, or 0.30 percent, to close at 203,770.43, compared to 203,161.81 posted earlier. Consequently, the year-to-date return climbed to 30.95 percent.

Despite the overall positive performance, market breadth closed negative, with 34 losers outweighing 24 gainers.

On the gainers’ chart, FG202033S6 led with a 36.30 percent increase to close at N115.86 per share. Other notable gainers included Trans-Nationwide Express, International Breweries, CHAMS, and Guinness.

On the losers’ side, Omatek Ventures topped the chart with a 10 percent decline to close at N2.07 per share. It was followed by Austinlaz, Coronation Insurance, Zichis Agro-Allied Industries, and Cornerstone Insurance.

Meanwhile, trading activity declined, as total volume traded dropped by 15.97 percent to 548.60 million shares valued at N31.46 billion across 48,538 deals.

Access Corporation maintained its lead on the activity chart for the third consecutive session, with 52.7 million shares worth N1.37 billion. Zenith Bank followed with 47.8 million shares valued at N5.34 billion, while United Bank for Africa traded 38.9 million shares worth N1.83 billion.

Also, Secure Electronic Technology recorded 36.7 million shares valued at N35.4 million, while Guaranty Trust Holding Company posted 34.9 million shares worth N4.63 billion.

Aradel Holdings recorded the highest value of trades at N6.49 billion, accounting for 20.64 percent of the total value traded for the day.