Renewed interest in Julius Berger, Learn Africa, and Cornerstone Insurance lifts market capitalisation to ₦97.54 trillion…..
The Nigerian stock market ended its four-day losing streak on a positive note Friday, as renewed investor interest pushed the market higher by ₦285 billion, offering some relief to investors.
Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation, which opened at ₦97.258 trillion, rose by ₦285 billion or 0.29 per cent to close at ₦97.543 trillion.
Similarly, the All-Share Index (ASI) appreciated by 0.29 per cent, gaining 449.80 points to settle at 154,126.46 points, compared to 153,676.66 points in the previous session.
This modest rebound lifted the year-to-date (YTD) return to 49.74 per cent. Despite the gain, market breadth remained negative, with 35 losers outnumbering 31 gainers at the close of trading.
Top Movers and Sector Highlights
Renewed buying interest in Julius Berger, Learn Africa, Cornerstone Insurance, Aso Savings, and Ikeja Hotel buoyed overall market sentiment, placing Julius Berger and others at the top of the gainers’ chart.
Conversely, Eterna Plc, McNichols Plc, and Deap Capital Management each shed 10 per cent, closing at ₦36.00, ₦2.97, and ₦1.71 per share, respectively.
Trading Volume and Value Surge
Investors exchanged a total of 5.2 billion shares valued at ₦45.2 billion in 30,598 deals, marking a busy trading day.
Cornerstone Insurance led the activity chart with 4.68 billion shares worth ₦22.13 billion, followed by Guaranty Trust Holding Company (GTCO), which traded 66.4 million shares valued at ₦5.9 billion.
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