Stock market closes bullish with market capitalisation up N29bn

By Cynthia Ezekwe

Trading activities on the Nigerian Exchange (NGX) platform ended the week positive as market capitalization increased by N29 billion.

The All Share Index (ASI) gained 0.10 per cent to close the week at 52,214.62 index points as against 52,162.24 index points recorded in the previous day’s trading session.

Meanwhile, a total of 1.42 billion units of shares were exchanged in  5,527 deals, valued at  N10.98 billion.

FIDELITY BANK Plc topped the volume and value charts as 942.7million units of its shares valued at N5.52billion was traded to end the week.

The market capitalization of equities also appreciated by 0.10 per cent  or N29 billion to close the week at N28.431 trillion as against the previous trading session where it closed at N28.402 trillion.

MRS Plc was the top performing equity as it gained +9.93% in value to close at N33.75 with a market valuation of N11.57 billion.

MRS led the gainers table as it gained 9.93 per cent  to close at N33.75 per share; ACADEMY appreciated 9.87 per cent to close at N1.67 per share; IKEJAHOTEL grew by 9.86 per cent  to close at N1.56 per share; TRANSCORP gained 9.75 per cent  to close at N2.59 per share; while  ARDOVA appreciated 9.09 per cent  to close at N26.40 per share.

On the contrary,  CILEASING led the losers table as it  shed 9.86 per cent to close at N3.20 per share; PRESTIGE was down 9.76 per cent  to close at N0.37 per share;  ROYALEX lost 6.90 per cent  to close at N0.54 per share; COURTVILLE depreciated  6.52 per cent  to close at N0.43 per share; while LIVESTOCK declined by 6.42 per cent  to close at N1.02 per share.

Overall, the NGX had a positive trading week as investors were bullish despite some midweek bearish moments.