The Nigerian stock market ended the week bullish as investors gained N234 billion on Friday after a four-day bearish run, which amounted to N5.1 trillion in losses.
Friday’s data from the Nigerian Exchange Limited showed that market capitalisation rose by N234 billion, or 0.15 per cent, from N155.359 trillion on Thursday to N155.593 trillion.
The All-Share Index (ASI) also gained 366 points, or 0.15 per cent, closing at 242,593.31 from 242,227.31 in the previous session.
Consequently, the market’s year-to-date return improved to 55.90 per cent.
Market breadth closed positive, with 39 stocks recording gains against 11 losers, reflecting stronger investor confidence.
On the gainers’ chart, Abbey Mortgage Bank, International Energy Insurance and DAAR Communications topped the list, each advancing 10 per cent to close at N9.35, N7.26 and N1.98, respectively.
Meanwhile, on the flip side, Academy Press declined by 9.84 per cent to N8.25, while University Press fell by 9.73 per cent to N5.10.
VFD Group shed 7.59 per cent to close at N10.35 per share.
Further analysis showed that trading activity improved, with total volume rising by 3.40 per cent to 608.49 million shares valued at N32.03 billion in 53,826 deals.
Abbey Mortgage Bank emerged as the most traded stock by volume, accounting for 164.08 million shares, or 26.97 per cent of the total volume traded.
Seplat led in value terms, recording transactions worth N9.74 billion, representing 30.39 per cent of the market’s total turnover.
Recall that on Thursday, investors lost N1.8 trillion, while the period from Monday to Wednesday also witnessed significant losses.
