Nigerian stock market wrapped up the week on a high note, with investors gaining N793 billion on Friday.
Market capitalization grew by N793 billion, a 0.94 percent rise, closing at N85.055 trillion, up from N84.262 trillion the previous day.
The All-Share Index (ASI) also advanced by 1,252.93 points, or 0.94 percent, to finish at 134,452.93.
The positive performance was driven by strong investor demand for stocks like Champion Breweries, Ikeja Hotel, Unilever Nigeria, Enamelware, The Initiates, and 43 others.
Market breadth was favorable, with 48 stocks advancing and 22 declining.
Leading the gainers, Champion Breweries surged 10 percent to close at N12.32 per share, while Ikeja Hotel also rose 10 percent to N23.10. Unilever Nigeria climbed 10 percent to end at N68.20, Enamelware gained 9.98 percent to N27, and The Initiates Plc increased 9.95 percent to N16.13 per share.
On the downside, Tripple Gee dropped 10 percent to N3.51 per share, and Tantalizer fell 8.55 percent to N2.46. Sunu Assurances declined 6.64 percent to N4.64, Ecobank Transnational Incorporated lost 5.88 percent to close at N32, and Neimeth International Pharmaceutical shed 4.55 percent to N6.50 per share.
Trading saw 713.7 million shares valued at N24.2 billion exchanged in 24,880 deals, compared to 818.39 million shares worth N22.67 billion traded in 22,955 deals the previous day.
Access Corporation led trading activity with 42.4 million shares valued at N1.18 billion, followed by Universal Insurance with 40.7 million shares worth N29.7 million. Tantalizer traded 32.2 million shares valued at N83.1 million, Guaranty Trust Holding Company moved 28.7 million shares worth N2.7 billion, and Ellah Lakes recorded 26.3 million shares valued at N260.5 million.
Vice President of Highcap Securities, Mr. David Adonri, commented that the market maintained its upward trend, though with reduced momentum. He attributed the gains to strong performances by stocks like Okomu Oil and Presco, particularly noting Okomu Oil’s impressive half-year results and interim dividend proposal. Adonri added that all sectors saw gains, supported by a stable Monetary Policy Committee (MPC) report with no policy changes and strong corporate disclosures, which collectively drove the market capitalization higher.
