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Trading activities on the floor of the Nigerian Stock Exchange returned to a bull run on Friday, appreciating by N924 billion, despite profit-taking activities in some major stocks.
The market capitalization of listed shares increased by 0.92% to N160,519 trillion from N159,048 reported on Thursday
The NGX All Share Index also rose 2,265.33 basis points to 247, 222.27 points from 244,956.94 points reported the previous day.
While the market breadth was negative with 23 gainers to 25 bearers, gains recorded in shares of Dangote Cement, FirstHoldco, Fidelity Bank, among others, erased losses recorded in shares of HBMNG, Aradel, UPDC and others taking the year-to-date return to 58.87%.
An analysis of the transaction showed that Dangote Cement led the earnings chart with 10% to close at N1111.00 per unit, FirstHoldco also gained 10% to close at N144.10 per unit, Guinea Insurance Insurance added 9.41% to close at N0.93 per unit, Fidelity Bank up 9.09% to close at N24.00 per unit while FTNCocoa gained 9.67% to close at N7.92 per share.
In contrast, Livestock Feeds topped the losers chart, falling 9.79% to close at N17.05 per unit; Tripple G lagged behind with a loss of 8.74% to close at N2.82 per unit; UPDC Reit down 8.14% to close at N17.50 per unit; HBMng fell by N350.00, while Pharmaceutical Companies Neimeth International fell 6.58% to close at N7.10 per share.
Further analysis indicated that trading volume increased by 26.76 million, or 7.91%, as investors traded 364.90 million shares versus 338.138 million shares reported the previous day; the value of transactions increased by 19.72% to stand at N22.98 billion in 335.85 transactions.
Transactions in Multitrex shares drove market activities with 246,786 million shares valued at N162,879 million; Livestock feed followed with a bill of 46,252 million to close at N865,590 million; Lasaco Insurance traded 23.815 million shares at a cost of N41.252 million; Sovereign Trust Insurance exchanged 20,043 million shares at a cost of N39,202 million and Zenith Bank exchanged 16,504 million shares at a cost of N1,997 billion.
