Nigeria stocks close week positive as benchmark index rises 1.66%

Nigeria equities market closed Friday on a positive note, as NSE ASI appreciated by 1.66% to close at 36,920.56 basis points as against +0.59% appreciation recorded previously. Consequently, year-to-date (YTD) settled at 37.38 percent.

Friday’s performance thus closes the week on a high along analysts call that the upturn in market trend Thursday, largely driven by bargain hunting in market bellwethers following three consecutive days of decline would continue.

Market turnover closed positive as volume moved up by 5.10 percent as against 0.16 percent uptick recorded in the previous session. ZENITH BANK, UBA and GUARANTY were the most active to boost market turnover. ZENITH BANK and GUARANTY topped market value list.

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7up led the list of active stocks that recorded impressive volume spike at the end of today’s session.

On the other hand, market breadth closed positive as ZENITH BANK led 26 gainers against 12 losers topped by CUSTODYINS, representing improved performance when compared with the previous outlook.