Stock Market Stabilizes After Two Consecutive Days of Losses

Stock Market Stabilizes After Two Consecutive Days of Losses

Following a 0.15 percent increase in equity capitalization, the Nigerian Stock Exchange ended on Friday with investors taking home a total of 39.6 billion.

To compensate for two days of consecutive capital market losses, the equity capitalization was boosted from $25.52 trillion to $25.56 trillion.

After eight hours of trade, the all-share index increased 73.5 basis points to settle at 47,437.48, up from 47,363.98 on Thursday.

On Friday, investors in the capital market exchanged 7.02 for 1.15 million shares in 3,928 transactions.

This was higher than the $4.47 billion spent on 261.55 million shares in 4,672 transactions on Thursday.

Niger Insurance headed the gainers' chart, closing with a 10% gain to settle at 0.22kobo per share, up from 0.20kobo per share.

RT Briscoe's stock climbed 8.96 percent during eight hours of trading, from 0.67kobo to 0.73kobo per share.

The share price of UPDC increased by 7.61 percent, from 0.92kobo to 0.99kobo per share.

The value of UACN's stock increased by 0.60kobo, from 10.05 to 10.65kobo per share.

Cornerstone gained 5.71 percent, closing at 0.74kobo per share, up from 0.70kobo per share.

Royal Exchange headed the loser’s chart with a loss of 0.13kobo, dropping from 1.34kobo to 1.21kobo per share.

Ellah Lakes' stock fell by 0.33 kobo to conclude the day at 3.12 kobo per share, down from 3.45 kobo.

After losing 0.16kobo during trading, Pharmdeko's stock dropped from 2 to 1.844kobo per share.

Linkage Assurance fell 7.14 percent to 0.52kobo per share, down from 0.56kobo per share.

Unilever rounded out the top ten by losing 0.80kobo in market value, dropping from 14 to 13.20kobo per share.

FCMB led the Friday stock market with 932.88 million shares worth $3.49 billion.

Zenith Bank came in second, with 29.94 million shares worth $805.64 million.

Access Bank sold 22.50 million shares for a total value of $227.82 million.

United Capital traded 16.87 million shares worth 208.52 million, while Fidelity Bank sold 19.30 million for 55.15 million.