Trading activities at the Nigerian Stock market on Friday, witnessed a growth of
N340 billion by investors.
The growth follows the bullish sentiment on FBNH, which largely impacted the Banking sector and the Airtel Africa Plc share buy-back notice.
Consequently, the All-Share Index grew by 647.19 basis points, representing an upsurge of 1.61 per cent to close at 40,868.36.
While the Market Capitalization gained ₦340.29 billion, representing a growth of 1.62 per cent, to close at ₦21.30 trillion following the additional listing of 5.08 billion ordinary shares of 50k each of Jaiz Bank Plc at ₦0.65 per share.
In that regard, investors witnessed capital gain in 42 listed stocks, among which are; FBN Holdings, which emerged as the best performing stock of the week with 21.74 per cent growth, followed by ETI with 16.67 per cent growth.
Accordingly, three of the five major sectors in the market experienced bullish sentiment, led by Banking with 4.53 per cent growth, followed by Oil & Gas – 0.24 per cent, and Industrial Goods – 0.11 per cent sectors.
Others are, Insurance and Consumer Goods sector which declined by 1.51 per cent and 0.51 per cent, respectively.
Meanwhile, a total of 2.18 billion shares valued at ₦21.96 billion in 22,438 deals were traded in the week, compared to 2.19 billion shares worth ₦16.18 billion in 14,377 deals traded in the prior week.
However, following the seven consecutive price appreciations, “we expect mixed sentiment but more of profit taking from investors in the coming week.