Nigerian stocks jumped for the third straight trading session on Friday as investors bet more on shares, pushing the benchmark index close to its peak level since 20th July and up by 0.9 per cent compared to the previous session.
The climb pivoted around investors’ interest in the shares of MTN Nigeria and a couple of bank stocks, with the number of advancing stocks trebling that of decliners.
Transaction volume improved by 3 per cent, while turnover depleted by as much as 67 per cent.
Market breadth, which measures the extent of investors’ sentiment towards trade, was positive as 36 gainers were reported compared to 12 losers.
The all-share index enlarged 463.6 basis points to 52,512.5, while market capitalisation increased to N28.6 trillion.
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Year to date, the index is up 2.5 per cent.
TOP FIVE GAINERS
Total was the most profitable stock, appreciating by 10 per cent to N212.3. Berger Paints went up by 10 per cent to N6.60. Linkage Assurance rose to N0.44, notching up 10 per cent. Thomas Wyatt added 9.6 per cent to end the trade at N1.48 while Prestige completed the top 5, climbing by 9.52 per cent to N0.46.
TOP FIVE LOSERS
Lasaco was the worst-performing stock, dropping 10 per cent to close at N0.99. CWG shed 9.52 per cent to close at N0.95. Linkage Assurance fell to N0.44, losing 10 per cent. Chellarams slumped to N1.34, recording 9.5 per cent depreciation while Royal Exchange closed at N0.91, going down by 7.14 per cent.
TOP 5 TRADES
Altogether, 217.2 million shares estimated at N2.6 billion were traded in 4,591 deals.
READ ALSO: Nigerian stocks gain little as liquidity drops
Zenith Bank was the most active stock for the second day running with 20.3 million units of its shares worth N517.7 million traded in 337 deals. GTCO’s shares numbering 18.2 million and priced at N449.9 million exchanged hands in 363 transactions.
UBA had 17.1 million shares valued at N144.4 million traded in 268 deals. Sterling Bank traded 15.8 million shares estimated at N24.3 million in 93 transactions and Transcorp traded 11.7 million shares valued at N14.1 million in 76 deals.
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