TRADING CLOSES ON POSITIVE NOTE AS ASI RISES BY 0.77%

The indices of corporate performance were on the upbeat as the stock market closed on a positive note on the last trading day for the week.

The NSE's All Share Index rose by 0.77 per cent or 210.39 points from 27,489.72 basis points to close at 27,700.11 basis points on Friday.

Similarly, the market capitalisation of the 188 first tier securities appreciated by 0.77 per cent or N50bn to close at N6.7tn from N6.649tn recorded on Thursday.

The NSE-30 Index also appreciated by 0.82 per cent or 9.09 points to close at 1,114.02 basis points, as against 1,104.93 basis points recorded the preceding day.

The Banking Index rose marginally by 0.26 per cent or 0.93 points to close at 461.75 basis points, from 460.82 basis points.

The banking sector dominated activities, accounting for 38 per cent of total turnover. A total of 250.949 million shares, valued at N2.477bn were exchanged in 4,883 deals. Trading in the shares of First Bank of Nigeria Plc drove volume in the sub-sector.

The insurance sub-sector followed on the activity chart, as it accounted for 28 per cent of total turnover. The insurance index dropped by 0.63 per cent or 1.32 points to close at 211.75 basis points, from 210.43 basis points on Thursday.

Trading in the shares of Mutual Benefits Assurance Plc and Continental Reinsurance Plc drove volume in the sub-sector.

Benue Cement Company Plc led the gainers' chart, with an increase of 4.9 per cent or N3.00 to close at N63.80 per share, while Total Nigeria Plc recorded a 1.7 per cent or N2.53 rise to close at N152.15 per share. Flour Mills Nigeria Plc followed with a gain of 3.4 per cent or N2.50 to close at N76.50 per share.

Dangote Sugar Refinery Plc recorded the highest loss for the day, shedding 4.5 per cent or 94 kobo to close at N20.06 per share. Alumaco Plc followed with an increase of 4.9 per cent or 49 kobo to close at N9.49 per share, while Zenith Bank Plc lost 2.5 per cent or 48 kobo to close at N19.00 per share.