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Published On: Sat, Sep 22nd, 2018

Equity market extends positive sentiment by 0.18%  

The Nigerian equity market had its second consecutive rally on Friday, gaining 0.18 per cent, buoyed by sustained buy pressure.

Sustained positive trading pushed the All Share Index (ASI) up by 59.28 absolute points, representing a growth of 0.18 per cent, to close at 32,540.17 points.

The market upturn was on the back of the sterling performance of Premium stocks and 17 others as it had 23 gainers against 15 losers.

Jaiz Bank was at forefront of those who advanced, appreciating 9.8 per cent, trailed by Unity Bank and First Aluminum, which were up 9.09 per cent and 8.82 per cent respectively.

On the other hand, Mansard was on top of the losers’ table, dropping -9.71 per cent. Lasaco and Prestige, all of the insurance sector, also dipped -6.06 per cent and -5.36 per cent.

The Market Capitalization rose by N21.64 billion, representing an increase of 0.18 per cent, closing at N11.88 trillion.

The NSE Consumer Goods, Oil/Gas and Banking indexes rose by 2.00 per cent, 1.15 per cent and 0.90 per cent respectively.

Zenith Bank led the most active chart, trading 82,467,991 shares valued at N1.72 billion. A total of 523,444,352 shares exchanged hands on Friday, amounting to N10.58 billion.

Nigerian bourse has declined -14.58 per cent in the last six months as portfolio investors take flights from emerging markets due to higher yields in US markets.

 

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