Nigerian stock market extends rally with massive N1.86tn gain

The Nigerian banal marketplace ended trading connected Friday with a monolithic N1.857 trillion summation successful investors’ wealth, marking its 14th consecutive league of gains.

Market capitalization roseate by 1.29 percent to adjacent astatine N145.334 trillion, up from N143.477 trillion recorded successful the erstwhile session.

In the aforesaid vein, the All-Share Index precocious by 2,884.81 points, besides representing a 1.29 percent increase, to settee astatine 225,722.49 compared to Thursday’s 222,837.68.

The sustained upward inclination further boosted the market’s year-to-date performance, portion marketplace breadth remained affirmative with 43 gainers outpacing 26 losers.

On the gainers’ chart, Academy Press and UPDC topped the database with a 10 percent summation each, closing astatine N7.70 and N4.40 per share, respectively. Other notable advancers included Haldane McCall, Zichis Agro Allied Industries, and Wema Bank.

Conversely, Meyer led the losers with a 9.92 percent diminution to adjacent astatine N16.80 per share. It was followed by Trans-Nationwide Express, C&I Leasing, Omatek Ventures, and E-Tranzact.

Trading enactment showed mixed performance, with full measurement declining by six per cent, portion the fig of deals roseate by 4 per cent and the worth of transactions accrued by 17 per cent.

Market details showed that a full of 627.6 m...