The Nigerian stock market ended the week on a positive trend, with the All-Share Index (ASI) increasing by 1.42% to reach 103,586.33. This growth was mainly due to strong performance in insurance stocks. The total value of the market went above N63 trillion, and the number of shares traded jumped by 94.7% to 2.6 billion shares.
Market Highlights
The NGX Insurance Index was the top performer with a 26.91% increase, mainly because of PRESTIGE ASSURANCE (+46%) and SOVEREIGN TRUST (+45.16%).
The NGX Consumer Goods Index went up by 2.16%, thanks to HONEYWELL FLOUR MILLS and UNILEVER, which both rose by 20%.
The NGX Banking Index and Industrial Index also saw gains of 0.58% and 0.50%, respectively. However, the Oil & Gas Index dropped by 0.45% due to losses in TOTAL, ETERNA, and OANDO.
Top Gainers & Losers
- Top Winners: PRESTIGE ASSURANCE (up 46%), NEIMETH (up 45.26%), SOVEREIGN TRUST (up 45.16%)
- Top Losers: PZ CUSSONS (down 13.79%), CWG (down 10.83%), UNION DICON SALT (down 10%)
Corporate Announcements
- Nigerian Breweries added 20.7 billion new shares to the stock market.
- Access Holdings shared its report on how it is helping the environment and society.
- FCMB Group completed its public offer.
