Nigerian equity market extends up to three consecutive trading sessions

The positive sentiment investors in the Nigerian equity market continued towards the assignment of portfolios to ministers, continued on Friday, bringing the bourse bullish trend to three consecutive trading sessions.

The All Share Index (ASI) advanced 0.62 per cent, having added   170.51 absolute points to close the week at 27,800.17 points, driven by gains by medium and large capitalized stocks.

Also, the Market Capitalization increased by N82.95 billion, representing a gain of 0.62 per cent to close at N13.52 trillion.

The Upturn was impacted by gains recorded in large and medium capitalized stocks, amongst which are; MAYBAKER (9.95%) UNILEVER (9.07%), OANDO (8.00%), ETI (6.67%), FO (4.23%), ZENITH (3.33%), GUARANTY (3.33%), ACCESS (3.10%), WAPCO (1.82%), NESTLE (0.82%) and FLOURMILL (0.36%).

All sectors of the Exchange appreciated on Friday, led by the banking sector which was up 2.74 per cent.

MAY BAKER increased 9.95 per cent to top the 24 gainers’ list, while TRIPPLEG emerged as top loser among 10 other losers, having shed -10 per cent.

Investors traded a total of 1.24 billion shares valued N3.29 billion in 3,644 deal, with FBNH emerging the most active with 80.12 million of its shares worth N401.08 million exchanging hands.

The NSE has so far lost 11.55 per cent this year.