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BUSINESS & ECONOMYCapital MarketCOVERNEWSLETTER

Stock Market Adds N37.9billion on Renewed Rally

Stock Market Dips Further In Face Of More Deals

 

 

 

Equities trading at the Nigerian Stock Market on Friday, February 17,ended the trading week on a positive note as the bourse recovered from the brief setback witnessed on Thursday, February 16.

Consequently, market capitalization soared by N37.9 billion to close at N8.709 trillion in contrast to N26 billion lost in previous session when the Market Capitalisation closed at N8.671 trillion

The positive run was driven by gains recorded across all sectors with the exception of the Oil & gas and insurance index which depreciated by 0.59 and 0.09 percent respectively.

With 21 appreciating stocks paired against 10 declining stocks, PZ Nigeria led the day’s gainers with 10.12 percent to close at N13.39. While Livestock feeds led the day’s losers sliding by 5.00 percent to close at 76 kobo.

Standard Trust Company emerged the most traded equity today with an exchange of 252.1 million shares worth N126.1 million. It was trailed by United Capital having accounted for 62 million shares valued at N240.9 million.

Zenith Bank recorded the sale of 59.5 million shares worth N893.1 million; FCMB exchanged 21.3 million shares valued at N27.5 million while FBN Holdings traded 15.2 million shares worth N50.3 million.

At the end of trading, investors in 2,713 deals traded a total of 480 million shares worth N1.978 billion compared to a total of 144.4 million shares worth N1.5 billion traded in 2,303 deals traded a on Thursday.

 

 

 

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