The Nigerian equities market reversed its recent bearish trend on Friday, closing the week on a strong positive note as investors gained an estimated N3.24 trillion.
The market rally pushed the All-Share Index (ASI) higher by 5,041.22 points, representing a 2.10 percent increase, to close at 244,775.83 points compared to 239,734.61 recorded in the previous session.
As a result, the market’s year-to-date return climbed to 57.30 percent, while investor sentiment remained positive with 45 stocks posting gains against 31 losers.
On the gainers’ table, Dangote Cement, Cadbury Nigeria, Mecure, Neimeth, and Livingtrust Mortgage recorded the highest gains of 10 percent each, closing at N1,088, N72.60, N72.60, N9.90, and N3.52 per share respectively.
Meanwhile, UACN and Industrial and Medical Gases topped the losers’ chart after shedding 10 percent each to close at N171 and N42.30 per share.
Market activity, however, weakened as trading volume declined by 36.89 percent to 1.16 billion shares valued at N59.80 billion across 72,733 deals.
Access Holdings Plc emerged as the most traded stock by volume with 104.43 million shares exchanged, while MTN Nigeria led the market in value traded at N7.39 billion.
