Stock market rallies with N103bn gain


The equity market rallied on Friday with stocks gaining N104.307 billion after 6 days of consecutive losses.

Today’s rebound hinged on gains by heavyweight blue-chip stocks including Airtel Africa, Nestle, UACN, ETI and Nigerian Breweries.

The Oil and Gas Index posted the worst sectorial performance, going down by 0.45% to close at 198.55 basis points.

There were 14 gainers compared to 13 losers, which made the market turn in a positive breadth.

The All Share Index (ASI) inched up by 0.84% to close at 24,829.02 basis points. Market capitalisation rose to N12.952 trillion at the end of today’s trade.

Year to date, the index is down by 7.5%.

Airtel Africa led gainers today, appreciating by 9.97% to close at N328.70. ABC Transport added up 9.80% to end today’s trade at N0.56. Neimeth went up by 9.60% to N0.37. ETI rose to N5,25, notching up 9.38% in the process. UACN completed the top 5, climbing up by 6.43% to N7.45.

Fidson topped the losers’ chart today declining by 9.70% to close at N2.98. Unity Bank shed 8.62% to end today’s trade at N0.53. Chams fell to N0.22, losing 8.33% in the process. PZ slumped to N3.85, recording 4.94% depreciation. Regal Insurance closed at N0.20, going down by 4.76%.

In the top trades, 127.205 million shares estimated at N2.154 billion were traded today in 2,844 deals.

GTB was the most active stock with 38.314 million of its stocks worth N870.508 million traded in 182 deals. 13.524 million units of Aiico shares priced at 13.500 million exchanged hands in 126 transactions. FBN Holdings had 6.712 million shares valued at N34.924 million traded in 148 deals. FCMB traded 6.679 million shares estimated at N12.322 million in 84 transactions. Mutual Benefit traded 5.274 million shares valued at N1.171 million in 22 deals.


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