The domestic stock market sustained its upward momentum on Friday, closing the week with a gain of N248 billion. Specifically, market capitalisation, which opened at N62.918 trillion, rose by N248 billion or 0.39 percent to settle at N63.166 trillion.
Similarly, the All-Share Index climbed by 0.39 percent or 406.2 points to close at 103,586.33, compared to Thursday’s figure of 103,180.14.
This performance was driven by sustained investor interest in tier-one banks, including Zenith Bank, United Bank for Africa (UBA), and Access Corporation, as well as other advancing equities. Consequently, the Year-To-Date (YTD) return improved to 0.64 percent.
Market breadth remained positive, with 67 stocks gaining and 11 declining.
On the gainers’ list, Abbey Mortgage Bank, Chams Plc, Learn Africa, NCR Nigeria, and Omatek each appreciated by 10 percent, closing at N3.30, N2.31, N4.95, N6.05, and 88k per share, respectively.
Conversely, Total Nigeria led the decliners, shedding 9.74 percent to close at N630. Computer Warehouse Group followed with a 6.04 percent drop to N7 per share. Thomas Wyatt fell by 5.26 percent to N1.80, ABC Transport lost 4.07 percent to N1.18, and UACN declined by 3.19 percent to N31.90 per share.
An analysis of market activity showed increased trading turnover compared to the previous session, with transaction value rising by 45.48 percent.
In total, 709.28 million shares worth N8.24 billion were traded in 13,593 deals, surpassing the 829.75 million shares valued at N5.67 billion exchanged in 11,752 deals in the prior session.
Notably, Chams led the activity chart by volume, with 58.07 million shares, while FBN Holdings topped the value chart with transactions worth N492.64 million.
