Nigerian stocks rally with N104.1 billion gain


Nigerian stocks found resilience on Friday as the benchmark index rose 0.46 per cent or N104.1 billion after three straight of losses, but that was substantial enough to help the week record a positive return.

Telco heavyweight Airtel Africa was central to the strong performance, with support coming from AIICO Insurance and WAPIC Insurance.

Market breadth, which measures the level of investors’ sentiment towards trade, closed on a negative note as 24 losers emerged, compared to 18 gainers.

The all-share index increased by 199.52 basis points to close at 43,308.29, while market capitalisation closed at N22.6 trillion.
Between January and now, the index is up 7.54 per cent.


Royal Exchange led the gainers’ chart, appreciating by 10 per cent to close at N0.55. ABC Transport went up by 10 per cent to N0.33. AIICO rose to N0.70, notching up 9.38 per cent. UPL added 8.89 per cent to end trade at N2.94. Regal Insurance completed the top 5, climbing by 7.69 per cent to N0.42.


UPDCREIT led losers, declining by 9.82 per cent to close at N5.05. Champion shed 5.90 per cent to close at N2.55. UPDC fell to N1.31, losing 5.07 per cent. FTN Cocoa slumped to N0.40, recording 4.76 per cent decline. Veritas Kapital closed at N0.21, going down by 4.55 per cent.


Altogether, 305.3 million shares worth N3.6 billion were traded in 4,450 deals.

FCMB was the most active stock with 81 million of its shares worth N247.8 million traded in 105 deals. GTCO traded 29.5 million shares priced at N738.3 million in 465 transactions. Access had 28.1 million shares valued at N253.8 million traded in 284 deals. Honeywell traded 16.8 million shares estimated at N70.2 million in 327 transactions. Zenith traded 13.2 million shares valued at N320.2 million in 275 deals.

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