Investors Earn Over N244bn On Market Recovery

Gains on the Nigerian Exchange extended on Friday, totaling N244.5 billion for the week as the markets continued a steady recovery.

The benchmark All-Share Index inched higher by 177.86 points or 0.46 percent to close at 38,726.10 from Thursday's 38,548.24, increasing market capitilisation by N92 billion to close the week N20.18 trillion.

Market breadth closed positive on Friday as 21 stocks posted price appreciation in contrast with 10 laggards.

Morison Industry led the gainers' table in percentage terms, gaining 9.71 percent to N1.13 per share.

Veritas Kapital came second with 9.09 percent to 24kobo, while University Press increased by 9.09 percent to N1.68 per share.

NPF Microfinance Bank added 6.59 percent to N1.78, while Honeywell Flour gained 6.03 percent to close at N1.23 per share.

On the other hand, CWG topped the losers’ chart in percentage terms, dropping by 9.47 percent to N1.53 per share.

Regency Assurance trailed with a loss of 9.09 percent to 50kobo, while Royal Exchange dipped 7.69 percent to 2kobo per share.

Lasaco Insurance declined by 6.71 percent to close at N1.39, while Africa Prudential shed 4.84 percent to N5.90 per share.

However, the volume of shares transacted dipped 20.28 percent as investors bought and sold 199.06 million shares valued at N1.59 billion in 3,150 deals.

Sovereign Trust Insurance was the toast of investors, exchanging 31.79 million shares valued at N8.35 million.

FCMB Group followed with an account of 28.27 million shares worth N9.53 million, while Royal Exchange had 10.85 million shares valued at N7.75 million.

Fidelity Bank accounted for 10.29 million shares worth N23.12 million, while Regency Assurance traded 9.69 million shares valued at N4.97 million.