The Nigerian Exchange Limited appears to be moving quickly as some local unlisted securities have gained 1.86% as the market cap reached N1.1 trillion
According to The Times, due to continued bargain-hunting brought on by restored interest in local equities by both domestic and foreign investors, the stock market increased by 1.65% on Friday.
The All-Share Index grew by 1,020.99 points to 63,040.87 points from 62,019.88 points, according to an analysis of market data, while the market capitalization increased by N556 billion to N34.326 trillion from N33.770 trillion.
On the final trading day of this week, the insurance counter increased by 4.89 percent, the banking sector increased by 3.33 percent, the industrial products sector increased by 1.81 percent, the energy sector increased by 1.06 percent, and the consumer goods index jumped by 0.32 percent.
In contrast to the 5.4 billion shares worth N95.0 billion traded in 9,948 deals on Thursday, investors bought and sold 1.2 billion shares worth N13.9 billion in 10,393 deals yesterday, indicating a moderated level of activity.
This represents an increase in the number of deals by 4.47 percent and a decline in the trading volume and value by 77.77 percent and 85.39 percent, respectively.
FBN Holdings was the most actively traded stock on Friday, exchanging 131.8 million units worth N2.7 billion, followed by Wema Bank, which moved 131.0 million units for N644.9 million. UBA exchanged 98.2 million stocks for N1.4 billion, Universal Insurance swapped 101.5 million shares worth N27.4 million, while FCMB exchanged 111.4 million shares worth N738,3 million.
Omatek, FTN Cocoa, Afromedia, and Presco all rose 10% yesterday to close at 55 Kobo, N3.19, 22 Kobo, and N220.00, respectively, while Fidelity Bank gained 9.98% to N8.93.
On the other hand, Multiverse dropped 9.87% to trade at N3.38; RT Briscoe dropped 9.59% to sell at 66 Kobo; Courteville dropped 8.22% to 67 Kobo; Coronation Insurance dropped 7.58% to 61 Kobo; and Champion Breweries dropped 3.16% to N4.60.
At the conclusion of trading, the market breadth index was in the positive range.
