Capital Market Stabilises After Two Days Consecutive Loses

The Nigerian Stock Market closed on Friday with investors going home with ₦39.6 billion following a rise in equity capitalisation by 0.15 per cent.

The equity capitalisation increased from ₦25.52 trillion to ₦25.56 trillion to cover for two days of consecutive losses at the capital market.

At the end of eight hours trading, all-share index rose up by 73.5 basis points to close with 47,437.48 compared to 47,363.98 recorded on Thursday.

Investors at the capital market on Friday parted with ₦7.02 for 1.15 million shares in 3,928 deals.

This surpassed the ₦4.47 billion investors splashed on 261.55 million shares in 4,672 deals on Thursday.

The gainers’ chart was led by Niger Insurance closing with 10 percent gain to settle at ₦0.22kobo from ₦0.20kobo per share.

At the end of eight hours trading, RT Briscoe’s share rose by 8.96 percent to rise from ₦0.67kobo to ₦0.73kobo per share.

UPDC’s share rose by 7.61 percent to move from ₦0.92kobo to ₦0.99kobo per share.

UACN’s share appreciated by ₦0.60kobo to move from ₦10.05 to ₦10.65kobo per share.

Cornerstone gained 5.71 percent to end trading with ₦0.74kobo from ₦0.70kobo per share.

The losers chart was led by Royal Exchange, which lost ₦0.13kobo to drop from ₦1.34kobo to ₦1.21kobo per share.

Ellah Lakes’ share dropped by ₦0.33kobo to end trading at ₦3.12kobo from ₦3.45kobo per share.

Pharmdeko’s share depreciated from ₦2 to ₦1.84kobo per share after losing ₦0.16kobo during trading.

Linkage Assurance lost 7.14 percent to end trading with ₦0.52kobo from ₦0.56kobo per share.

Unilever completed the list after shedding ₦0.80kobo from its market price to drop from ₦14 to ₦13.20kobo per share.

The Friday capital market saw FCMB led with 932.88 million shares valued at ₦3.49 billion.

Zenith Bank followed with 29.94 million shares valued at ₦805.64 million.

Access Bank traded 22.50 million shares worth ₦227.82 million.

Fidelity Bank sold 19.30 million shares worth ₦55.15 million, while United Capital traded 16.87 million valued at ₦208.52 million.

This article was originally published on Nigeria News