Investors in Nigeria’s stock market saw a welcome rebound on Friday, gaining N91 billion to end the week on a positive note after enduring days of downward trends.
Market capitalisation, which began the session at N67.102 trillion, edged up to N67.193 trillion, reflecting a gain of N91 billion or 0.14 percent.
Similarly, the All-Share Index climbed by 146 points, or 0.14 percent, closing at 107,821.39, compared to the previous day’s 107,675.46.
However, market sentiment remained mixed, with 34 stocks declining in value, outpacing 26 gainers on the price movement chart.
Red Star Express topped the list of losers, shedding 9.96 percent to close at N6.60 per share. Learn Africa followed closely, dropping 9.84 percent to settle at N3.30, while Multiverse Mining and Exploration declined 9.72 percent to finish at N9.75 per share.
Cadbury Nigeria also faced losses, slipping 9.62 percent to close at N26.30, while Linkage Assurance Plc dropped 5.80 percent to N1.30 per share.
Conversely, Austin Laz and Company led the gainers, surging 10 percent to N2.09 per share. Oando followed with a 9.94 percent increase, closing at N58.05, while Caverton saw a 9.67 percent rise to N2.95 per share.
John Holt advanced 9.62 percent to close at N7.98, and PZ recorded a 9.09 percent gain, settling at N35.40 per share.
Trading activity was robust, with a total of 458.26 million shares valued at N14.078 billion exchanged in 12,213 deals. This marked an uptick from Thursday’s 423.42 million shares worth N9.57 billion, traded across 11,112 transactions.
Zenith Bank remained the most actively traded stock in terms of both volume and value, with 122 million shares worth N5.9 billion changing hands.
Despite the rebound, reports indicate that investors have experienced more losses than gains in recent sessions.
