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Forte Oil, 16 Others Lead Stock Market to N7b Rise

By Modupe Gbadeyanka

The Nigerian Stock Exchange (NSE) maintained it upward drive on Friday with 17 equities appreciating in value and 13 stocks staying flat.

However, 17 stocks closed in the red zone at the end of trading activities on the floor of the equity market.

The advancing equities were led by Forte Oil, which gained N9.65k to close at N103.87k per share, while Total, which followed, rose by N6.90k to end at N284 per share.

Likewise, Dangote Cement went up by N3.96k to finish at N174 per share, CAP Plc appreciated by N1 to end at N32 per share, while Stanbic IBTC improved by 71k to close at N14.92k per share.

Conversely, Nigerian Breweries recorded the biggest loss, falling by N4.45k to finish at N137.55k per share, while Guinness dropped N4.43k to end at N84.30k per share.

Also, ConOil slumped by N1.97k to close at N37.48k per share, GTBank depreciated by N1.23k to end at N23.43k per share and Cadbury declined by N1.7k to end finish at N10.3k per share.

Business Post correspondent reports that the all-share index at the stock market on Friday advanced by 21.2 points or 0.08 percent to close at 26,486.02 points, while the market capitalisation finished at N9.113 trillion after going up by N7 billion.

Investors exchanged a total of 139 million shares at the market today, which were valued at N1.43 billion and executed in 1,703 deals.

In terms of volume, Transcorp emerged the most traded stocks on Friday, accounting for 26.5 million sold at N22.6 million, while UBA trailed with 23.5 million units transacted at N106 million.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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