Nigeria’s equities market returned to positive territory on Friday, October 23, with investors gaining ₦924 billion as renewed buying interest in major stocks outweighed losses recorded in several companies.
The market capitalisation of listed equities rose by 0.92 per cent to ₦160.519 trillion from ₦159.048 trillion recorded in the previous trading session.
The Nigerian Exchange All-Share Index also advanced by 2,265.33 points to close at 247,222.27 points, compared with 244,956.94 points on Thursday. The market’s year-to-date return increased to 58.87 per cent.
Despite the overall gain, market breadth remained negative, with 23 stocks advancing against 25 decliners.
Dangote Cement and First HoldCo led the gainers, rising by 10 per cent each to close at ₦1,111 and ₦144.10 per share, respectively. Guinea Insurance gained 9.41 per cent to ₦0.93, while FTN Cocoa rose 9.67 per cent to ₦7.92. Fidelity Bank advanced by 9.09 per cent to ₦24.
Livestock Feeds led the losers, falling 9.79 per cent to ₦17.05, followed by Tripple Gee, which declined 8.74 per cent to ₦2.82. UPDC Real Estate Investment Trust dropped 8.14 per cent to ₦17.50, while Neimeth International Pharmaceuticals lost 6.58 per cent to close at ₦7.10.
Trading activity also strengthened, with 364.90 million shares exchanged, up 7.91 per cent from the previous session. Transaction value increased by 19.72 per cent to ₦22.98 billion.
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