It looks like the Nigerian stock market had a bullish week, with notable gains in key stocks like UPDC, PRESCO, and MTN Nigeria, driving the All Share Index up by 1.38%. Here are some key takeaways:
Market Highlights:
- ASI & Market Cap: Up by 1.38% and 1.36%, closing at 105,933.03 points and N65.592 trillion respectively.
- Total Trading Activity: 3 billion shares exchanged hands in 72,534 deals, valued at N98 billion.
- Market Breadth: Positive, with 58 gainers vs. 34 losers.
Top Gainers:
- UPDC: 🚀 +38.50% (N2.59 from N1.87)
- ETERNA: +32.79%
- International Energy Insurance: +29.53%
- CADBURY: +27.61%
- FIDSON: +24.40%
- Others: Sovereign Trust Insurance (+21.00%), BETAGLASS (+20.98%), Northern Nigerian Flourmills (+20.96%), CHELLARAM (+20.83%), PRESCO (+19.69%)
Top Losers:
- SUNU Assurance: -12.87% (N5.01 from N5.75)
- University Press: -10.00%
- MULTIVERSE: -9.95%
- SCOA: -9.83%
- TRIPPLEG: -9.72%
- Others: MECURE (-9.71%), THOMASWYAT (-9.31%), Golden Breweries (-8.91%), TANTALIZER (-6.54%), Champion Breweries (-6.33%)
The strong market performance was driven by increased investor confidence, particularly in UPDC and PRESCO.
Source: Fundvine/ stock watch
