Nigerian equities rose a little higher by 0.09 per cent on Friday, helped by gains by bank stocks and palm oil maker Presco in a trading session, which marked the bourse’ third straight gain.

The banking index recorded the fastest progress of the five sector indexes tracked by the Nigerian Exchange as it expanded 0.44 per cent to 362.51 basis points, largely driven by an appreciation in the shares of Zenith.

A positive market breadth was reported as 17 gainers emerged against 10 losers.

The all-share index inched up 33.80 basis points to 38,648.91. Similarly, market capitalisation lifted to N7.114 billion to N20.143 trillion.

The index has fallen by 4.03 per cent since the start of the year.


Consolidated Hallmark led gainers, appreciating by 9.84 per cent to close at N0.67. Regal Insurance added up 8.70 to end today’s trade at N0.50. Royal Exchange went up by 5.88 per cent to N0.72. Cornerstone rose to N0.58, notching up 5.45 per cent in the process. Unity Bank completed the top 5, climbing by 5.45 per cent to N0.58.


Mutual Benefits declined by 8.16 per cent to close at N0.45. Courteville fell to N0.20, losing 4.76 per cent. AIICO dipped to N1.09, recording 2.68 per cent depreciation. Japaul shed 1.96 per cent to close at N0.50. WAPIC closed at N0.57, going down by 1.72 per cent.


In all, 220.638 million shares estimated at N2.529 billion were traded in 2,952 deals.

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Zenith was the most active stock with 44.970 million units of its shares worth N1.057 billion traded in 387 deals. Wema traded 21.726 million shares priced at N11.950 million in 94 transactions. UBA saw 15.286 million units of its shares estimated at N112.190 million exchange hands in 131 transactions. Transcorp traded 14.190 million shares valued at N12.825 million in 56 deals. Mansard transacted 11.814 million shares valued at N10.637 million traded in 50 deals.


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