Nigerian stock market on Friday reversed previous day loss as the All Share Index rose by 0.83% to close the week at 24,829.02 index point. Consequently, investors gained N106.3 billion as market capitalization improved to N12.952 trillion.
Market upturn was paired with mixed activity levels, as total volume declined by 127.20million units while value increased by 32.57% to N2.15billion. GUARANTY was the most traded by volume and value at 38.314million units and N870.50billion.
Market sentiment, as measured by market breadth, was positive, as 14 stocks gained, relative to 13 decliners. NEMEITH and PZ were the top gainers of the day with 9.60% and 9.38% price appreciation, while FIDSON and recorded the largest declines with -9.70% and -4.94% depreciation in share value.
Sector performance was positive as three indices gained, against depreciation in the Energy (-0.45%) and Industrial Indices (-0.35%). The Consumer Goods Index appreciated by 0.96%, while the lender’s and Insurance Indexes ascended by 0.64% and 0.04% respectively.
READ MORE: Nigerian Stock Market starts the week red, Investors lose N119.15 billion
The Consumer Goods Index rose on the back of appreciations in UACN (+6.43%) and NESTLE (+1.78%). Gains in ETI (+9.38%),FCMB (+1.64%) and AIICO (+2.06%) buoyed the lenders and the insurance Indexes. Conversely, the Oil and gas and Industrial index declined by -0.45% and -0.35%, impelled by losses in OANDO and DANGCEM respectively.
Top gainers
AIRTELAFRI up 9.97% to close at N328.7,UACN up 6.43% to close at N7.45,ETI up 9.38% to close at N5.25,NESTLE up 1.78% to close at N1200,NB up 0.86% to close at N35
Top losers
FIDSONdown 9.70% to close at N2.98,PZ down 4.94% to close at N3.85,OANDO down 4.00% to close at N2.4,DANGCEM down 1.54% to close at N128,FLOURMILL down 1.01% to close at N19.6
Outlook
Nigerian bourse finished the week on a positive note as blue chip stocks AIRTEL, NESTLE, NB brought the bulls back in. However, Nairametrics envisages cautious buying, as market liquidity remains generally thin.
