Stock market report: ASI rises

Reports from transactions on the Nigerian Stock Exchange (NSE) on Friday show that the All-Share Index, which opened at 40,286.76, appreciated by 1,187 points, that is 2.95 per cent, to close the week at 41,474.40.

Similarly, market capitalisation increased by N392 billion after the one-day market break on Thursday due to the Democracy Day holiday to close at N13.694 trillion against the N13.302 trillion achieved on Wednesday.

Seplat led the gainers’ table, appreciating by N23.95 to close at N658.95 per share.

Forte Oil followed, adding N19.88 to close at N213.88, while Dangote Cement added N7.99 to close at N235.00.

However, Caverton led the losers’ chart, dropping N0.28 to end the week at N5.41 per unit.

Afriprud was next, losing N0.12 to close at N3.23, while Redstarex and Fidson followed, each dropping N0.10 to close at N4.55 and N2.80 per share respectively.

In all, investors exchanged 671.2 million shares worth N11.872 million achieved in 5,869 deals on Friday, against the 577.25 million shares valued at N12.26 billion traded in 4,954 deals on Wednesday.

Guaranty Bank was investors’ favourite stock by volume, with a turnover of 91.4 million shares worth N2.721 billion.

Access Bank was next trading 74.774 million shares worth N750.4 million, while Zenith Bank traded 73.126 million shares valued at N1.848 billion.

From the money market, reports show that the Naira remained firm against the dollar at the three market segments on Friday.

At the official market, the currency was sold at N154.73 to the dollar, remaining stable at same price since last Monday.

Similarly, it stood firm against the dollar at the black market, as it gained 50 kobo to sell at N166 compared with N166.50 traded on Monday, while it traded at 165 against the dollar at the Bureau de Change against N167 on Monday.

The currency was also stable against the Pound Sterling and Euro at N278 and N233, respectively, since last week at the Bureau de Change.

At the official market, it was sold against the two currencies at N279 and N213 making it to shed N1 each against the two currencies while selling at N280 and N214 respectively at the black market since May 23.