Nigerian equity has sustained rally for two consecutive weeks

Adebayo Obajemu

Transactions on the floor of the Nigerian Stock Exchange on Friday, closed on a negative note as the All Share Index declined by 0.34% to settle at 24,427.73 points from the previous close of 24,512.27 points on Thursday.

Market Capitalisation closed at N12.743 trillion, down by 0.34% from the previous close of N12.787 trillion, thereby shedding N44 billion.

An aggregate of 174.2 million units of shares were traded in 3,723 deals, valued at N2.38 billion.

Market Breadth

The market breadth closed positive as 17 equities appreciated in their share prices against 13 equities that declined in their share prices.

Percentage Gainers

Julius Berger, Custodian Investment and Cutix Plc led other gainers with 10% growth, closing at N17.05, N5.50 and N1.76 respectively.

Honeywell Flourmills, NAHCO and Linkage Assurance among other gainers also grew their share prices by 9.47%, 8.37% and 7.89% respectively.

Percentage Losers

Seplat led other price decliners as it shed 10% of its share price to close at N347.40 from the previous close of N386.

Learn Africa, Unilever and Transcorp Plc among other price decliners also shed their share prices by 4.72%, 4.67% and 4.62% respectively.

Volume Drivers

Zenith Bank traded about 34.57 million units of its shares in 523 deals, valued at about N537.55 million.

FBNH traded about 28.13 million units of its shares in 240 deals, valued at N140 million.

UBA traded about 14.5 million units of its shares in 276 deals, valued at N87.93 million

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