Nigerian equities ticked up 0.46 per cent on Friday, a path to recovery for a market that has shed 3.84 per cent since the year began, as traders continued interest in the common stock of building materials giant Dangote Cement helped further the current bull run.
The shares of Dangote Cement, the country’s most capitalised company, has been on a steady rise lately, returning 3.53 per cent in the five days to Friday after it said it would resume its proposal to reacquire up to one-tenth of its publicly held shares.
The uptrend also drew support from gains posted by lenders GTB and FCMB
The industrial index was the day’s best mover of the five sectorial indexes tracked by the exchange as it advanced 1 per cent to 1,907.40 basis points.
Market breadth was positive, with 22 advancers emerging against 10 losers. Put differently, only 32 stocks reported price movement of the more than 160 companies quoted on the bourse.
The benchmark index garnered 177.86 basis points to close at 38,726.10, while market Capitalisation expanded N93 billion to N20.185 trillion.
TOP FIVE GAINERS
Morison led gainers, growing by 9.71 per cent to close at N1.13. UPL gained 9.09 per cent to close at N1.68. Veritas Kapital rose by 9.09 per cent to N0.24.
NPF Microfinance leapt to N1.78, notching up 6.59 per cent in the process. Mutual Benefits completed the top 5, climbing up by 6.03 per cent to N1.23.
TOP FIVE LOSERS
CWG declined by 9.47 per cent to close at N1.53. Regal Insurance shrank by 9.09 per cent to end the day at N0.50.
Royal Exchange fell to N0.72, losing 7.69 per cent. Lasaco dipped to N1.39, recording 6.71 per cent loss. Africa Prudential closed at N5.90, going down by 4.84 per cent.
TOP FIVE TRADES
In all, 199.063 million shares worth N1.591 billion were traded today in 3,150 deals.
Sovereign Trust was the most preferred stock with 31.785 million units of its shares worth N8.347 million traded in 41 deals.
FCMB transacted 28.266 million shares priced at N90.527 million in 88 trades. Royal Exchange had 1.085 million shares valued at N7.750 million exchange hands in 41 deals.
Fidelity traded 10.291 million shares estimated at N23.119 million in 110 transactions. Regal Insurance traded 9.697 million shares valued at N4.975 million in 29 deals.
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