The Nigerian stock market closed bullish on Friday, ending the week with a N3.156 trillion gain for investors. This was driven by renewed investor interest in banking, telecommunications, and oil and gas stocks.
Market Capitalisation and All-Share Index Surge
The market capitalisation closed at N147.102 trillion, up from an opening of N143.946 trillion, representing a 2.19 per cent gain. Similarly, the All-Share Index gained 2.19 per cent or 4,918.37 points, rising from 224,321.97 to 229,240.34.
Year-to-Date Return and Market Breadth
The market's Year-to-Date (YTD) return improved to 47.31 per cent. Market breadth closed positive, recording 39 gainers and 14 losers.
Top Gainers and Losers
Airtel Africa, The Initiates, Omatek Ventures, Daar Communications, and Universal Insurance led the gainers' chart, each rising by 10 per cent to close at N5,274, N25.85, N1.76, N1.65, and 88 kobo per share, respectively.
Conversely, International Energy Insurance led the losers' chart, dropping by 9.96 per cent to settle at N4.70. Meyer trailed with a 9.95 per cent decline, ending at N18.55, while Fortis Global Insurance fell by 9.80 per cent to close at N3.22 per share. Sovereign Trust Insurance dipped by 5.34 per cent to N1.95, and Veritas Kapital Assurance shed 5.07 per cent to settle at N1.31 per share.
Market Activity Declines
Market activity slowed during the session as trading volume fell by 46.82 per cent to 454.92 million shares, worth N27.61 billion, executed in 48,214 deals.
Zenith Bank Leads Activity
Zenith Bank led the activity chart by volume with 49.78 million shares traded, representing 10.94 per cent of the total volume. The stock also recorded the highest traded value at N5.16 billion, accounting for 18.70 per cent of the market's total value.
