Nigerian Equities Gain N3.236 Trillion on Positive Close

On Friday, the Nigerian Exchange (NGX) reported a positive close for local equities, with a total gain of N3.236 trillion, resulting in a market capitalization increase of 2.10% to N157.094 trillion, up from N153.858 trillion the previous day. The NGX share index rose by 5041.22 basis points, closing at 244,775.83 points, compared to 239,734.61 points on Thursday.

Market breadth was positive, with 44 stocks advancing against 31 declining, bringing the year-to-date return to 57.30%. Neimeth International Pharmaceutical Company and Cadbury Nigeria PLC recorded a 10% gain, closing at N9.90 and N72.60 per share, respectively.

Dangote Cement also appreciated by 10%, closing at N1,088.00 per share. UACN and Eterna PLC were among the top losers, with declines of 10% and 9.93%, closing at N171.00 and N33.55 per unit, respectively.

Trading volume dropped to 764.0 million shares, representing a 41.75% decrease, with a total value of N55.036 billion across 699,996 deals.