The value of transactions on the floor of the Nigerian Exchange Ltd. (NGX) advanced by 9.98% on Friday, closing the week on a positive note.
Specifically, 603.88 million shares valued at N9.16 billion were exchanged in 9,988 deals, compared to 392.80 million shares valued at N8.33 billion traded in 9,013 deals recorded on Thursday.
The market’s positive performance was driven by demand for equities such as MTN Nigeria, Transnational Corporation, Fidelity Bank, First City Monument Bank (FCMB), and United Capital.
As a result, investors gained N20 billion or 0.04%, with market capitalisation closing at N56.928 trillion, up from N56.908 trillion. The All-Share Index also rose by 0.04% or 36.3 points to settle at 100,539.40, compared to 100,503.21 previously.
However, market breadth closed negative with 29 laggards and 17 gainers on the floor of the Exchange.
Cutix led the decliners, dropping by 8.55% to close at N5.99, while Sovereign Trust Insurance topped the gainers, advancing by 4.26% to close at 49k per share.
In terms of volume, FCMB led the activity chart with 114.12 million shares valued at N896.12 million, followed by Jaiz Bank with 103.35 million shares worth N224.52 million. United Capital sold 56.76 million shares worth N2.29 billion, leading the value chart. GTCO traded 37.55 million shares valued at N1.70 billion, and Universal Insurance transacted 33.35 million shares worth N11.36 million.
