Activities on the Nigerian Stock Exchange (NSE) remained upbeat on Friday as the market capitalisation appreciated by N155 billion due to gains by some highly capitalised stocks.
The News Agency of Nigeria (NAN) reports that the market capitalization, which opened at N9.336 trillion gained N155 billion or 1.66 per cent to close at N9.491 trillion.
Similarly, the All-Share Index rose by 450.78 points or 1.66 per cent to close at 27,634.42 compared with 27,183.64 achieved on Thursday.
Forte Oil posted the highest price gain to top the gainers’ table, gaining N4.90 to close at N196 per share.
It was trailed by Guinness with a gain of N4.35 to close at N102, while Lafarge Africa increased by N2.94 to close at N80.01 per share.
Nigerian Breweries garnered N2.31 to close at N137.02 and GT Bank grew by N1.45 to close at N19.20 per share.
Conversely, Mobil topped the losers’ chart by N4.47 to close at N161.51 per share.
Dangote Cement trailed with a loss of 50k to close at N169.50, while CAP shed 30k to close at N36.50 per share.
Berger Paint dropped 25k to close at N7.55 while UPL dipped by 21k to close at N4.41 per share.
In spite of the growth in market indicators, the volume of shares traded closed lower with an exchange of 243.80 million shares worth N2.43 billion transacted in 3,942 deals.
NAN reports that this is in contrast to the 332.23 million shares valued at N2.16 billion traded in 4,167 deals on Thursday.
UBA was the most traded equity, accounting for 54.71 million shares valued at N246.47 million.
Zenith Bank followed with 33.99 million shares worth N509.34 million, while United Capital transacted 26.58 million shares valued at N59.99 million.
FCMB Group sold 19.24 million shares worth N31.47 million while investors staked N20.37 million on 15.22 million shares of Transcorp.