The Nigerian equities market sustained at three day rebound from a bearish run to close in the green. On the back of the recent oil cut by OPEC, the equities market has witnessed improved investor sentiment with market breadth closing at 1.84x. This came on the back of twenty four gainers and thirteen losers.
Oil and gas player MOBIL has topped the gainers’ chart for three consecutive days and on Friday gained 10.25% to close at N324.13. FO followed by climbing 10.24%, while OANDO (9.82%), PORTPAINT (9.70%) and NEM (5.71%) trailed.
While activity levels dropped, the benchmark All Share Index gained 1.88% on Friday to close at 25,740.83 (25,625.08 Thursday). Volume of trade dropped to 576.852M (773.866M on Thursday) with value doing likewise, N 1.348B (1.910B on Thursday).
UNIONDICON slid -4.97% to top position of the thirteen decliners, followed by CCNN (-4.93%) while CONTINSURE (-4.90%), NAHCO (-4.74%) and CHAMPION (-4.49%) trailed.
Banking stocks took up the top four positions of the top traded list (by volume) – WEMABANK (417.057M), DIAMONDBNK (45.422M), ACCESS (20.311M)& FCMB (20.245M) – followed by TRANSORP (10.295M).
Market capitalization on Friday closed at 8.855B, up from 8.691B on Thursday.
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
