Nigerian stocks near year-to-date high on positive sentiment

Nigerian stocks rally amid depressed trading

Nigerian stocks appreciated 0.14 per cent on Friday, leading up to another week of positive return as optimism in respect of third quarter financial reports lifted shares’ prices.

Equities are steadily clawing their way back to the peak they have attained so far this year, which they did on 29th January, and chances are that that milestone could be bettered soon.

Central to Friday’s performance was Ecobank Transnational Incorporated and FBN Holdings, two firms that have also made considerable contribution to the current uptrend.

Also strengthening gains was the oil and gas index, which made the most advance of the five sector indexes at 2.48 per cent.

Market breadth, which indicates the sentiment of investors towards trade, was positive as there were 23 gainers compared to 19 laggards.

The all-share index expanded by 59.15 points to 41,763.26 points, while market capitalisation closed lower at N20.3trillion.

TOP FIVE GAINERS

Cutix led gainers, appreciating by 10 per cent to close at N6.05. Unilever went up 9.85 per cent to N14.50. ABC Transport rose to N0.34, notching up 9.68 per cent in the process.

PZ added 9.26 per cent to end trade at N5.90. Mutual Benefits completed the top 5, climbing by 6.17 per cent to N204.9.

TOP FIVE LOSERS

NEM was the worst performing stock, declining by 8.57 per cent to close at N1.92. Ikeja Hotel shed 7.83 per cent to close at N1.06. NGX Group fell to N22, losing 6.58 per cent.

READ ALSO: Nigerian stocks trade nearly flat, Honeywell lifts volume 

WAPIC dipped to N0.48, recording 5.88 per cent depreciation. Japaul Gold closed at N14.65, going down by 5.48 per cent.

TOP FIVE TRADES

A total of 510.2 million shares estimated at N5.9 billion were traded today in 5,485 deals.

FBN Holdings traded 154.4 million units of its shares worth N1.9 billion traded in 667 deals. ETI had 56.1 million shares, priced at N421.5 million exchange hands in 247 transactions.

Transcorp traded 31.9 million shares valued at N32.3 million in 160 deals. NGX Group traded 29.9 million shares estimated at N723.2 million in 735 transactions. Wema traded 24.1 million shares valued at N17.4 million in 98 deals.

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