Following price appreciation recorded by most blue-chip stocks, the Nigerian stock market finished trading for the week on a bullish note, as investors’ wealth gained by N232 billion.
At the close of today’s session, the All Share Index (ASI) rose by 1.80% to 25,204.75 points.
Accordingly, investors gained N232 billion in value, as market capitalization rose to N13.135trillion. The upturn was affected by gains recorded in large capitalized stocks, amongst which were; Mobil Oil, MTN Nigeria Communications, Nigerian Breweries and BUA Cement.
Activity level finished low, as total volume and values of trades decreased by 26.00% and 22.26% respectively, to 245,443 million units and NGN2.70 billion.
UBA was the most traded stock by volume at 48.76million units while; ZENITH was the most traded by value at N735.35million.
Market sentiment, as measured by market breadth, closed positive as 26 stocks posted gains while 16 declined. 11 Plc. recorded the highest price gain of 9.97% to close at N213.90 per share.
(READ MORE: Dangote, MTN, Industrial stocks lead bears to pull market’s indicators)
The sectoral performance was positive as all sector indexes gained. The Industrial index (+5.72%) was the top performer of the day, due to the +9.55 price appreciation in BUACEMENT.
The NSE (Nigerian Stock Exchange) Oil & Gas index followed to gain 3.11%, on the back of +9.95%, and +9.95% gain recorded in MOBIL and CONOIL.
Consequently, Price appreciation in NB (+5.33%) spurred the Consumer Goods Index to advance by 1.51%, while the lenders and Insurance indexes trailed distantly to finish the day at +0.25% and +0.06%, following buying interest in UBA, ETI, and AIICO.
Top gainers
MOBIL up 9.97% to close at N213.9,CONOIL up 9.95 close at N21,BUACEMENT up 9.55% to close at N39,MTNNup 3.60% to close at N115,NB up 5.33% to close at N39.5
Top Losers
CAVERTON down 10% to close at N2.61,MAYBAKER down 2.86% to close at N3.06,FBNH down 2.80% to close at N5.2,STANBIC down 0.91% to close at N32.55,GUARANTY down 1.04% to close at N23.75
Outlook
Nigeria stocks ending the week with, five days consecutive winning streak boosted by blue-chip stocks and energy stocks surge. Nairametrics had earlier predicted that the rally will be triggered by institutional and local investors taking positions.However, Nairametrics recommend you contact a certified financial advisor when picking stocks
