Investors Gain N179 Billion as Market Surge Lifts Trading Activity

The stock market surged on Friday as investors traded 1.826 billion shares valued at N20.03 billion across 20,645 transactions.

This contrasted with Thursday’s 324.6 million shares worth N13.05 billion exchanged in 18,328 deals, indicating strong growth in market activity.

The rebound reflected renewed confidence as the market showed broad strength, with volume and value rising sharply.

Access Corporation topped the activity chart with 103.29 million shares traded, valued at N2.17 billion.

The market also extended its bullish run as investors gained N179 billion in value by the close of trading.

Market capitalisation rose by N179 billion or 0.20 per cent to N91.286 trillion, up from Thursday’s N91.107 trillion.

Similarly, the All-Share Index climbed 281.30 points or 0.20 per cent to finish at 143,520.53, from 143,239.23.

Traders attributed the uptick to interest in Ikeja Hotel, NGX Group, Academy Press, Omatek, Cadbury and 28 other advancing stocks.

The year-to-date return increased to 39.44 per cent, while market breadth closed positive with 33 gainers and 21 losers.

Ikeja Hotel led the gainers by 10 per cent to close at N30.25. NGX Group rose by 9.98 per cent to finish at N56.20.

Academy Press gained 9.70 per cent to close at N7.35, while Omatek Ventures rose 9.35 per cent to end at N1.17.

Cadbury appreciated by 8.63 per cent, closing at N57.90 per share to extend the chart of top gainers.

Abbey Mortgage Bank led the losers, falling 10 per cent to close at N5.85, while Meyer shed 9.97 per cent to finish at N13.10.

Sunu Assurances lost 9.89 per cent to close at N3.92, Sovereign Trust Insurance fell 9.09 per cent to end at N2.70 per share.

Linkage Assurance also declined by 8.02 per cent, closing the day at N1.72 per share.

(NAN)