Business
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.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...