The Nigerian stock market gained N290bn at the end of trading last week as the All-Share Index of the Nigerian Exchange Limited rose by 1.48 per cent to 38,212.01 basis points.According to Cordros Research, buying interest in Nestle Nigeria Plc and bargain hunting in Okomu Oil Plc, Dangote Cement Plc, Access Bank Plc and Dangote Sugar Refinery Plc drove the weekly gain to a month-to-date return of 0.80 per cent.
A total of 1.02 billion shares valued at N14.14bn were traded in 17,565 deals last week, compared to 1.01 billion shares worth N10.33bn traded in 17,165 deals in the previous week. The consumer goods lead sectoral gains, recording a 5.10 per cent increase. It was followed by industrial goods sector, which gained 2.10 per cent, while the insurance and banking sectors rose by 2.0 per cent and 1.30 per cent respectively.
As trading ended on the floor of the NGX on Friday, 24 companies saw their share prices rise, while 16 companies recorded losses. Nascon Allied Insurance led the gainers’ chart with a 9.76 per cent to close at N15.75 per share. It was followed by Ikeja Hotel Plc with a 9.59 per cent increase to close at N1.60 per share.Read Also