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NSE: Bank, oil & gas stocks drive gains as market advances by N49bn

The equity section of the Nigerian Stock Exchange (NSE) recorded its fifth straight gain on Friday, advancing by N49 billion, which culminated in a weekly gain of N154.433 billion.

Bank and oil & gas stocks including GTB, Stanbic and Seplat were crucial to the positive drift.

All the sectorial indices assessed appreciated with the Insurance Index leading the pack after rising by 2.37% to 135 basis points.

Market breadth was positive with 23 gainers emerging against 12 losers. The All Share Index inched up by 0.37% to 25,605.64 basis points while the market capitalisation jumped to N13.358 trillion.

Year to date, the index is down by 4.61%.

TOP 5 GAINERS

Law Union & Rock led the gainers’ chart, appreciating by 9.71% to close at N1.13. Mansard went up by 9.58% to N1.83. Red Star Express rose to N3.89, notching up 6.58% in the process. Chams added 4.76% to end today’s trade at N0.22. Lasaco completed the top 5, climbing by 4% to N0.26.

READ ALSO: NSE: Market sustains bull run, advances by N27bn

TOP 5 LOSERS

Initiates was the worst performing stock, declining by 9.52% to close at N0.57. Wapic shed 5.71% to close at N0.33. NAHCO fell to N2, losing 4.76%. Mutual Benefits slumped to N0.21, recording 4.55% depreciation. Champion Breweries closed at N0.90, going down by 3.23%.

TOP 5 TRADES

419.660 million shares estimated at N3.788 billion were traded today in 4,152 deals.

Lasaco was the most active today with 90.599 million units of its stocks worth N22.755 million traded in 33 deals. 78.598 million units of Zenith Bank’s shares priced at N1.365 billion exchanged hands in 561 transactions. Access Bank had 54.478 million shares valued at N357.856 million traded in 528 deals. Wema Bank traded 31.526 million shares estimated at N17.228 million in 56 transaction. GTB traded 24.381 million shares valued at N649.033 million in 327 deals.

Ronald Adamolekun

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Ronald Adamolekun

Ronald Adamolekun is a creative writer with a mixed bag of experience in fields as diverse as data journalism, financial reporting and editing.

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