Stock market closes positive, index gains by 1.64%

Trading on the Nigerian bourse closed positive on Friday with the All-Share Index (ASI) increasing by 1.64 per cent to 49,638.94 from 48,837.76 on Thursday.

Similarly, the market capitalisation grew by N432 billion to N26.761 trillion from N26.33 trillion recorded on Thursday.

The market breadth closed positive as 36 stocks advanced against 12 stocks that declined.

NEM Insurance recorded the highest price gain of 10 per cent to close at N4.40 per share.

Academy Press followed with a gain of 9.70 per cent to close at N1.47 per share, while Cadbury rose by 9.63 per cent to close at N10.25 per share.

Champion rose by 9.57 per cent to close at N2.52 while Julius Berger gained 9.35 per cent to close at N30.40 per share.

On the other hand, NPF Micro finance Bank led the losers’ chart by 10 per cent to close at N1.98 per share.

Trans Express declined by 8.99 per cent to close at 81k while Eterna depreciated by 7.38 per cent to close at N6.02 per share.

Conerstone followed with a decline of 4.84 per cent to close at 59k per share, while Dangote Sugar lost 4.42 per cent to close at N16.20 per share.

Meanwhile, shares of Transcorp led the volume chart with 36.078 million shares valued at N42.21 million.

AIICO followed with 27.08 million shares worth N20.89 million, while First City Monument Bank (FCMB) traded 22.09 million shares valued at N84.61 million.

First Bank Nigeria Holdings (FBNH) traded 16.5 million shares valued at N196.95 million, while Access Bank (AccessCorp) transacted 15.49 million shares worth N150.49 million.