Market rally deepens, index up by 0.7%

The rally in the equities segment of the Nigerian Stock Exchange continued on Friday with major indices closing positive.

The market capitalisation of the listed equities gained N89bn or 0.7 per cent from N11.516tn on Thursday, to close at N11.605tn on Friday.

Similarly, the NSE’s All-Share Index was up by 278.94 basis points or 0.7 per cent to close at 36,436.98 points, up from 36,158.04 points recorded the previous day.

The NSE-30 Index rose by 0.9 per cent or 15.23 basis points from 1,693.08 basis points to close at 1,708.31 points, while the consumer goods index gained 0.7 per cent or 7.39 basis points to close at 1,024.36 points.

A total of 33 stocks recorded price appreciation, while 17 stocks lost.

For instance, Paints and Coatings Manufacturers Plc gained the highest, rising by 9.80 per cent or 20 kobo to close at N2.24 per share.

Lafarge Wapco Plc followed with a gain of 9.44 per cent or N8.50 to close at N98.50 per share.

Ashaka Cement Plc also gained 9.42 per cent or N1.80 to close at N20.90 per share, while Vitafoam Nigeria Plc and Unity Bank Plc gained 9.29 per cent and 9.09 per cent, respectively to close at N4 and 60 kobo per share.

Mansard Insurance Plc also gained 6.97 per cent or 14 kobo to close at N2.15.

On the other hand, Jos International Breweries Plc recorded the highest loss for the day, shedding 9.88 per cent or 48 kobo to close at N4.38 per share.

Tripple Gee and Company Plc lost 9.61 per cent or 22 kobo to close at N2.07 per share, while Cutix Plc and Courteville Business Solutions Plc fell by 9.50 per cent or 19 kobo and 9.33 per cent or seven kobo, respectively to close at N1.81 and 68 kobo per share.

The diversified industries sub-sector led on the activity chart, as trading in the sub-sector accounted for 45.85 per cent of total volume traded on Friday.

In the sub-sector, investors exchanged 123.770 million shares, worth N267.113m in 273 deals.

Turnover in the sub-sector was driven by trading in the shares of Transnational Corporation of Nigeria Plc, with a total of 121.869 million shares valued at N187.551m traded in 177 deals.

In all, investors staked N1.733bn on 269.887 million shares, in 4,043 transactions.

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