The equity market rebounded on Friday with a ₦219 billion gain, closing the week’s trading sessions on a positive note in spite of the nationwide protests.
The major drivers of the market’s positive performance included Zenith Bank, Access Corporation, Fidelity Bank, Transnational Corporation, United Capital, and Oando, among other stocks.
Specifically, the market capitalisation of listed equities, which opened at ₦55.278 trillion, increased by 0.40 per cent or ₦219 billion to close at ₦55.497 trillion.
The All-Share Index added 0.40 per cent or 386 points, closing at 97,745.73, compared to 97,359.76 posted on Thursday.
As a result, the Year-To-Date (YTD) returns advanced by 35.63 per cent.
Similarly, market breadth closed positively with 36 gainers and 10 losers on the floor of the Exchange.
On the gainers’ table, May and Baker, Oando, Oando and Okumu Oil led by 10 per cent each to close at ₦7.04, N25.30 and ₦321.20 per share, respectively.
Total followed closely by 9.98 per cent to close at ₦427.70 and United Capital rose by 9.95 per cent to close at ₦12.15 per share.
On the other hand, Me Cure led the losers’ table by 9.82 per cent to close at ₦7.35, ABC Transport trailed by 70k, while Sovereign Trust Insurance lost 9.09 per cent to close at 50k per share.
Sunu Assurances shed 8.16 per cent to close at ₦1.35 and UPDC Real Estate Investment Trust depreciated by 6.92 per cent to close at ₦1.21 per share.
However, trading activities reflected a downward trend as the total value of shares traded decreased by 53.68 per cent.
A total of 210.91 million shares valued at ₦3.95 billion exchanged hands in 6,603 deals, in contrast to 565.12 million shares valued at ₦8.53 billion exchanged in 6,821 deals recorded previously.
Meanwhile, United Bank For Africa (UBA) led the activity table in volume and value with 37.64 million shares valued at ₦752.02 million, followed by Japaul Gold Group with 17.18 million shares worth ₦30.18 million.
Oando Plc sold 14.88 million shares worth ₦371.03 million, Zenith Bank transacted 13.76 million shares valued at ₦489.98 million and Veritas Kapital sold 11.69 million shares worth ₦11.68 million.