Nigerian stock market records N234bn gain after four days of N5.1tn loss

The Nigerian banal marketplace ended the week bullish arsenic investors gained N234 cardinal on Friday after a four-day bearish run, which amounted to N5.1 trillion successful losses.

Friday’s information from the Nigerian Exchange Limited showed that marketplace capitalisation roseate by N234 billion, oregon 0.15 per cent, from N155.359 trillion on Thursday to N155.593 trillion.

The All-Share Index (ASI) besides gained 366 points, oregon 0.15 per cent, closing astatine 242,593.31 from 242,227.31 successful the erstwhile session.

Consequently, the market’s year-to-date instrumentality improved to 55.90 per cent.

Market breadth closed positive, with 39 stocks signaling gains against 11 losers, reflecting stronger capitalist confidence.

On the gainers’ chart, Abbey Mortgage Bank, International Energy Insurance and DAAR Communications topped the list, each advancing 10 per cent to adjacent astatine N9.35, N7.26 and N1.98, respectively.

Meanwhile, connected the flip side, Academy Press declined by 9.84 per cent to N8.25, portion University Press fell by 9.73 per cent to N5.10.

VFD Group shed 7.59 per cent to adjacent astatine N10.35 per share.

Further investigation showed that trading enactment improved, with full measurement rising by 3.40 per cent to 608.49 cardinal shares valued astatine N32.03 cardinal successful 53,826 deals.

Abbey Mortgage Bank emerged arsenic the astir traded banal by volume, accounting for 164.08 cardinal shares, oregon 26.97 ...