Capital market stabilizes after two days of consecutive losses


The Nigerian stock market closed on Friday as investors went home with £39.6 billion following a 0.15% increase in share capitalization.

Equity capitalization fell from 25.52 trillion naira to 25.56 trillion naira to cover two days of consecutive losses in the capital market.

After eight hours of trading, the all-stock index rose 73.5 basis points to close at 47,437.48 from Thursday’s 47,363.98.

On Friday, capital market investors parted with ₦7.02 for 1.15 million shares in 3,928 trades.

This topped the ₦4.47 billion investors invested across 261.55 million shares in 4,672 trades on Thursday.

The winners’ board was led by Niger Insurance closing with a 10% gain to 0.22 kobo from 0.20 kobo per share.

At the end of eight hours of trading, RT Briscoe stock was up 8.96% from 0.67 kobo to 0.73 kobo per share.

UPDC’s share increased by 7.61% from 0.92 kobo to 0.99 kobo per share.

UACN’s share rose by ₦0.60kobo from ₦10.05 to ₦10.65kobo per share.

Cornerstone gained 5.71% to end trades at 0.74 kobo from 0.70 kobo per share.

The losers board was led by Royal Exchange, which lost 0.13 kobo from 1.34 kobo to 1.21 kobo per share.

Ellah Lakes’ share fell 0.33 kobo to end trading at 3.12 kobo from 3.45 kobo per share.

Pharmdeko’s stock depreciated by ₦2 to ₦1.84 kobo per share after losing ₦0.16 kobo during trading.

Linkage Assurance lost 7.14% to end trading at 0.52 kobo to 0.56 kobo per share.

Unilever topped the list after losing 0.80kobo of its market price from ₦14 to 13.20kobo per share.

Friday’s capital market saw FCMB leading with 932.88 million shares valued at N3.49 billion.

Zenith Bank followed with 29.94 million shares worth N805.64 million.

Access Bank traded 22.50 million shares worth ₦227.82 million.

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


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