Nigerian stocks added 2.16 per cent or N471.4 billion on Friday in an end-of-the-year rush for shares that helped equities deliver a 6.07 per cent return, but that was miles away from the 50 per cent reported for last year.
Investors doubled down on their resolve to own more shares as trade volume expanded by 100 per cent, with NGX Group, UPDC REIT and Zenith leading the charge. Stocks touched their peak for the year on 9th November, when the benchmark index reached 43,730.55 basis points, and the valuation of shares listed on theMarket breadth, an indicator of investors’ sentiment towards trade, was positive as 31 gainers emerged compared to 15 laggards.
The all-share index climbed 903.17 basis points to 42,716.44. Similarly, market capitalisation rose to N21.83 trillion.Nestle topped gainers, trading up 10 per cent to close at N1,556.50. Royal Exchange gained 10 per cent to close at N0.88. UPDC REIT rose by 9.98 per cent to N4.45. SAHCO jumped to N5.30, notching up 8.61 per cent. Regal Insurance completed the top 5, climbing up by 8.51 per cent to N0.51.NEM topped the losers’ table, declining by 10 per cent to close at N4.50. Wema shrank by 8.
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