On Friday, investors in the Nigerian stock market celebrated a gain of N148 billion, marking a positive end to the week.
By the close of trading on Friday, market capitalization increased by N148 billion, or 0.22 percent, reaching N66.257 trillion, up from N66.109 trillion on Thursday.
The All-Share Index (ASI) also rose by 234.52 points, or 0.22 percent, finishing at 105,660.64.
This upward trend was fueled by strong buying interest in medium and large-cap stocks, including GTCO, NASCON, and MRS. Additionally, the release of full-year financial results and corporate actions from several listed companies further enhanced investor confidence.
However, the market breadth ended on a negative note, with 32 stocks declining compared to 24 that gained.
Among the stocks that fell, Africa Prudential and International Energy Insurance each saw a drop of 10 percent.
Cadbury Nigeria experienced a decline of 9.42%, closing at N23.55, while UPDCREIT dropped by 9.09% to finish at N5.50 per share.
In a similar trend, RT Briscoe fell by 7.69%, closing at N2.40 per share.
On the positive side, Abbey Mortgage Bank and UPDC Real Estate Investment both surged by 10%, closing at N4.73 and N2.97 per share, respectively.
Northern Nigeria Flour Mills saw an increase of 9.96%, closing at N87.75, and Mutual Benefits Assurance rose by 9.38% to close at N1.05 per share. Additionally, Royal Exchange gained 8.25%, also closing at N1.05 per share.
Overall, a total of 547.57 million shares valued at N21.617 billion were traded across 13,244 transactions. This is an increase from the previous trading session, which saw 423.62 million shares worth N9.181 billion exchanged over 11,393 transactions.
Mutual Benefits Assurance led the trading activity with 73.943 million shares valued at N77.463 million, followed closely by Cutix, which traded 72.029 million shares worth N1.
Cutix reported the sale of 72.029 million shares, valued at N179.099 million. Meanwhile, Guaranty Trust Holding Company sold 67.848 million shares for N4.574 billion.
Additionally, Fidelity Bank traded 47.552 million shares worth N904.254 million, while Universal Insurance transacted 33.013 million shares valued at N19.723 million.
