Investors recorded a gain of N561 billion as the Nigerian stock market on Friday finished the first trading session of the year on a bullish note.
Strong performances by FTN Cocoa Processors, ABC Transport, Mutual Benefits Assurance, Deap Capital Management, Aluminium Extrusion Industries, and 48 other stocks buoyed overall market sentiment.
Market capitalization rose by N561 billion, representing a 0.57 percent increase, to close at N99.937 trillion from an opening value of N99.376 trillion.
Similarly, the All-Share Index appreciated by 0.57 percent, gaining 879.33 points to settle at 156,492.36, compared with 155,613.03 recorded in the previous session on Wednesday.
The News Agency of Nigeria (NAN) reports that trading did not take place on Thursday due to a public holiday declared by the Federal Government to mark the New Year.
Market breadth closed positive, with 53 stocks advancing against 10 decliners.
FTN Cocoa Processors, ABC Transport, Mutual Benefits Assurance, and Deap Capital Management topped the gainers’ chart, each rising by 10 percent to close at N5.50, N4.51, N3.41, and N2.09 per share, respectively. Aluminium Extrusion Industries also recorded strong gains, advancing by 9.93 percent to close at N23.80 per share.
On the losers’ table, Abbey Mortgage Bank led with a 6.25 percent decline to N6.00, followed by First City Monument Bank, which fell by 4.56 percent to close at N11.50. Seplat Energy dropped by 3.43 percent, settling at N5,610 per share.
Guinea Insurance declined by 2.26 percent to N1.30, while Universal Insurance shed 1.65 percent to close at N1.19 per share.
Market activity analysis showed an increase in the number of deals but a decline in both trading volume and value compared with the previous session. A total of 439.9 million shares valued at N24.9 billion were traded in 40,245 transactions, against 1.23 billion shares worth N35.13 billion exchanged in 27,884 deals on Wednesday.
Chams led the activity chart by volume, trading 120.3 million shares valued at N455.09 million. Linkage Assurance followed with 21.2 million shares worth N38.3 million, while Lasaco Assurance recorded the sale of 19.5 million shares valued at N48.6 million.
Aradel Holdings traded 15.6 million shares worth N10.74 billion, while Access Corporation exchanged 14.3 million shares valued at N317.3 million.
