Investors on Friday bounced back from a three-day downturn in Nigerian Exchange Limited with a N425 billion gain to end the week on a positive note.
According to market statistics, the uptrend was driven by renewed buying interest in stocks like Beta Glass, FTN Cocoa Processors, UPDC, Veritas Kapital Assurance, Sovereign Trust Insurance, and 46 other firms.
Here, the market capitalisation rose by 0.48 percent to close at N89.208 trillion on Friday, compared with N88.783 trillion on Thursday.
This comes as the All-Share Index (ASI) soared by 0.48 percent, or 671.70 points, to settle at 141,004.14.
At the close of Friday, the market breadth closed positive with 51 gainers and only 13 losers.
Accordingly, Beta Glass led the gainers’ table by 10 percent, closing at N449.35, followed by UPDC, FTN Cocoa Processors, Veritas Kapital Assurance, and Sovereign Trust Insurance.
Meanwhile, Thomas Wyatt Nigeria lost by 9.91 percent, ending the session at N3 to lead the losers’ chart.
Similarly, McNichols, The Initiates Plc, E-Tranzact International, and NPF Microfinance Bank also recorded dips at the close of trading on Friday.
NGX market activities showed an increase in the market volume, value, and deals as 1.30 billion shares valued at N47.84 billion were traded across 25,916 transactions compared with the previous session’s 573.75 million shares valued at N12.88 billion that were exchanged across 25,881 deals.
Accordingly, Zenith Bank led the activity chart with 345.5 million shares worth N21.2 billion.
Investors bounce back from losses in Nigerian stock market with N425bn gain
