The market capitalisation of the Nigerian Exchange (NGX) Limited crossed the N83 trillion valuation on Friday, helped by the duo of industrial goods and consumer goods sectors.
The bourse rallied by 0.54 per cent on the last trading session of the week due to bargain-hunting in the two above sectors, with the industrial goods space rising by 2.84 per cent due to the gains posted by Dangote Cement and the consumer goods index expanding by 0.02 per cent.
They offset the losses posted by the four other main sectors of Customs Street, especially the financial services landscape, which came under selling pressure.
The insurance counter declined by 1.30 per cent, the energy industry weakened by 0.14 per cent, the banking index shed 0.08 per cent, and the commodity space lost 0.06 per cent.
But the close of business, the All-Share Index (ASI) jumped by 783.71 points to 146,988.04 points from 146,204.33 points and the market capitalisation went up by N497 billion to N93.296 trillion from N92.799 trillion.
Dangote Cement was the best-performing stock for the day after a 6.48 per cent leap to quote at N575.00, NEM Insurance appreciated by 5.23 per cent to N29.15, Jaiz Bank soared by 4.65 per cent to N4.50, FTN Cocoa surged by 3.57 per cent to N5.80, and CWG advanced by 3.46 per cent to N17.95.
On the flip side, Union Homes REIT was the worst-performing stock after it shed 9.98 per cent to close at N51.85, Meyer lost 9.85 per cent to finish at N15.10, Sterling Holdings depreciated by 9.58 per cent to N7.55, Cornerstone Insurance dropped 6.90 per cent to trade at N6.21, and eTranzact decreased by 6.25 per cent to N15.00.
Business Post reports that there were 24 price gainers and 25 price losers on NGX on Friday, indicating a negative market breadth index and weak investor sentiment.
Market participants bought and sold 386.6 million stocks valued at N11.3 billion in 21,842 deals yesterday compared with 347.0 million stocks worth N27.4 billion traded in 24,691 deals on Thursday, showing an 11.41 per cent growth in the volume of transactions, a 58.76 per cent drop in the value of transactions and a n 11.54 per cent fall in the number of transactions.
Leading the activity during the session was Fidelity Bank with 47.3 million units sold for N959.3 million, Chams traded 38.5 million units worth N169.8 million, Japaul exchanged 21.8 million units valued at N56.0 million, Zenith Bank transacted 18.2 million units for N1.3 billion, and FCMB traded 18.1 million units valued at N195.2 million.