Business

Stock market closes week positive, indices up 0.06%

The domestic bourse ended the week on a positive note, as market capitalisation gained N14 billion or 0.06 per cent to close at N23.948 trillion from N23.934 trillion recorded the previous days.

Also, the All-Share Index gained 25.93 points or 0.06 per cent to close at 43,968.75 points compared with 43,942.82 points recorded on Thursday.

As a result, the year-to-date return fell to 2.93 per cent.

The primary drivers of the market’s performance were Zenith Bank, First Bank of Nigeria Holdings and Geregu Power.

Market breadth closed positive with 13 stocks advancing while six were on the laggard’s log.

Cornerstone Insurance led the gainers’ table increasing by 10 per cent to close at 44k per share.

Unity Bank followed with a growth of 9.62 per cent to close at 57k, while E-Tranzact International added by 9.37 per cent to close at N3.50, per share.

WAPIC insurance rose by 9.09 per cent to close at 36k, while Regency Alliance Insurance appreciated by eight per cent to close at 27k, per share.

On the other hand, Flour Mills topped the losers’ chart dropping by 9.9 per cent to close at N27.30, per share.

PZ trailed with a loss of 7.03 per cent to close at N8.60, while Ecobank Transnational Incorporated dropped five per cent to close at N9.50, per share.

Ikeja Hotel was down by 1.06 per cent to close at 93k, while Seplat dipped by 8.62 per cent to close at N8.02 per share.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 30.05 per cent.

A total of 209.71 million shares valued at N2.17 billion were exchanged in 2,942 deals.

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