After Thursday’s activities, the Nigerian capital market continued to gain prominence as the market capitalization increased by N85 billion due to purchases of 25 stocks and United Capital.
The all-share index (ASI) increased by 156.04 points at the end of trading, or 0.22 percent, to settle at 72,455.83 points. Additionally, market capitalization increased to settle at N39.649 trillion, up N85 billion.
The surge in value was primarily caused by gains in major and medium-sized firms, such as Flour Mills of Nigeria, United Capital, Access Holdings, Zenith Bank, and United Bank for Africa (UBA).
Afrinvest Research analysts responded to the performance of the market by stating: “As 26 companies rose and 27 fell, investor sentiment as gauged by market breadth weakened by -0.01× from 0.26× in the previous session. In the absence of any significant shock, we anticipate that the market will continue on its current trajectory tomorrow or today.
Market mood, as gauged by market breadth, was a little negative, with 26 stocks rising compared to 27 falling. John Holt came in second with a gain of 9.73 percent to settle at N2.03 kobo, and Infinity Trust Mortgage Bank emerged as the biggest price gainer at 9.83 percent to close at N2.57 kobo.
Ikeja Hotels saw a 9.2% increase to close at N4.75, while eTranzact International and DAAR Communications saw 7.69% increases to close at N7 and 42 kobo, respectively.
R.T. Briscoe Nigeria, on the other hand, closed at 55 kobo and led others on the losers’ chart with 9.84 percent. Mutual Benefits Assurance lost 9.43% to settle at 48 kobo, while UPDC Real Estate Investment Trust trailed with a fall of 9.78% to close at N4.15 kobo. Sovereign Trust Insurance depreciated by 7.69% to close at 36 kobo, while Omatek Ventures lost 7.79% to close at 71 kobo.
With 6,845 deals, 446.583 million units, valued at N7.256 billion, were traded, a 3.09 percent increase in total volume. The activity was dominated by transactions involving Access Holdings shares, with 77.255 million shares valued at N1.756 billion.
Zenith Bank traded 37.29 million shares worth N1.380 billion, while FCMB Group came in second with 45.235 million shares valued at N318.609 million. Fidelity Bank traded 27.512 million shares valued at N257.281 million, while UBA traded 29.301 million shares worth N724.064 million.
