Nigerian Equity Market Appreciates Further

The Nigerian equity market on Friday, improved further by 0.79 per cent due to gains achieved by some highly capitalised stocks.

The All-Share Index gained 200.87 points, representing 0.79 per cent growth to close at 25,507.09 points against 25,306.22 posted on Thursday.

Similarly, the market capitalisation inched N69.09 billion or 0.79 per cent to close at N8.773 trillion compared to the N8.704 trillion on Thursday.

Dangote Cement recorded the highest price gain to lead the gainers' table, growing by N3.20 to close at N171 per share. It was trailed by PZ with 79k to close at N23.50, while ETI garnered 69k to close at N15.20 per share. Unilever chalked up 50k to close at N29.50 and Oando appreciated by 40k to close at N4.58 per share.

On the other hand, Guinness topped the laggards' chart with a loss of N4.50 to close at N100 per share. 7UP dipped N1 to close at N154, while Stanbic IBTC shed 75k to close at N14.25 per share. Nigerian Breweries dropped 61k to close at N106.39 and Lafarge Africa lost 49k to close at N76.51 per share.

However, the volume of shares traded closed lower with a total of 211.31 million shares valued at N1.01 billion transacted in 2,377 deals. This was against 264.04 million shares worth N1.94 million achieved in 3,298 deals on Thursday.

Unity Bank was investors delight, accounting for 59.08 million shares valued at N41.36 million. FCMB Group came second having traded 27.29 million shares worth N24.14 million, while Access Bank sold 18.42 million shares valued at N71.84 million. Transcorp exchanged 16.79 million shares worth N16.82 million and investors staked N215.79 million on 15.07 million shares of GT Bank.