Equities Market Closed Higher on Friday, Investors booked N73.50bn Gain

• The Nigerian stock market closed the final trading session of the week slightly higher
• This is supported by bargain hunting and renewed interest in select large- and mid-cap stocks
• Neimeth International Pharmaceuticals Plc, NSLTech Plc, Eterna Plc, UPL Plc, and Eunisell Interlinked Plc topped the losers’ table

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

The Nigerian equities market closed the final trading session of the week on a positive note, supported by bargain hunting and renewed interest in select large- and mid-cap stocks.

Gains in key stocks and several others helped lift the benchmark index.

At the close of trading on Friday, January 23, the Nigerian Exchange (NGX) All-Share Index (ASI) edged up by 0.07% to 165,512.18 points, compared with 165,397.37 points recorded in the previous session.

Investors’ wealth increased by N73.50 billion as market capitalisation rose to N105.96 trillion.

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Market sentiment closed bearish, with 38 decliners outweighing 32 gainers.

Market activity

Trading activity weakened, as total volume declined by 4.76% to 731.67 million shares exchanged in 44,005 deals, valued at N19.05 billion.

Top 5 gainers

1. Morison Industries Plc rose by N0.68 from N6.84 to N7.52 per share (+9.94%).
2. UHOMREIT gained N6.45 from N64.90 to N71.35 per share (+9.94%).
3. SCOA Nigeria Plc increased by N2.15 from N21.65 to N23.80 per share (+9.93%).
4. RT Briscoe Plc added N0.54 from N5.44 to N5.98 per share (+9.93%).
5. Austin Laz Plc climbed by N0.40 from N4.09 to N4.49 per share (+9.78%).

Top 5 decliners

1. Neimeth International Pharmaceuticals Plc dropped by N1.45 from N14.70 to N13.25 per share (-9.86%).
2. NSLTech Plc declined by N0.10 from N1.07 to N0.97 per share (-9.35%).
3. Eterna Plc lost by N2.55 from N31.00 to N28.45 per share (-8.23%).
4. UPL Plc fell by N0.40 from N6.40 to N6.00 per share (-6.25%).
5. Eunisell Interlinked Plc shed N9.55 from N163.50 to N153.95 per share (-5.84%).

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Top 5 trades by volume

1. CHAMS Plc traded 76.86 million shares valued at N387.39 million.
2. NSLTech Plc exchanged 67.96 million shares worth N66.73 million.
3. Zenith Bank Plc traded 49.19 million shares valued at N3.47 billion.
4. Zichis Plc recorded 48.81 million shares worth N127.88 million.
5. Fidelity Bank Plc posted 39.61 million shares valued at N758.19 million.

Elumelu, wife increase stake in UBA

Earlier, Legit.ng reported that Businessman Tony Elumelu, chairman of United Bank for Africa, and his wife, Vivian Awele Elumelu, have added to their shareholding in the bank.

A disclosure filed with the Nigerian Exchange shows that the pair purchased a combined 23,196,236 UBA shares through two separate deals valued at N480.26 million.

The filing indicates that Vivian Awele Elumelu acquired 9,624,441 shares at an average price of N20.71 per share.

Source: Legit.ng