By Dipo Olowookere

The final trading session of the week on the trading floor of the Nigerian Stock Exchange (NGX) closed on a high note on Friday with an appreciation of 1.09%, supported by Nigerian brews and other stocks.

Renewed bargain hunting in shares of the brewing company and 20 others lifted the stock market’s All-Share Index (ASI) 481.51 points yesterday to 44,492.73 points from 44,011.22 points , while market capitalization increased from N262 billion to N24.234 trillion from N23.972 billion due to the positive performance across all sectors.

Business post reports that the consumer goods index increased by 1.27%, the banking space appreciated by 0.48%, the energy meter improved by 0.42% and the sector of insurance increased by 0.17%, the industrial goods counter closing flat.

Based on stock market data, investor sentiment was very strong yesterday as the breadth of the market closed on a positive note. There were only 11 prize losers.

Nigerian Breweries gained 10.00% to trade at 41.25 Naira, Union Bank appreciated 9.24% to 6.50 Naira, ABC Transport rose 8.70% to 25 Kobo, Axa Mansard climbed 7.27% to 1.77 naira, and United Capital jumped 6.64% to N12.05.

Conversely, Fidson recorded the heaviest loss with a drop of 9.34% to close at 8.15 naira, Coronation Insurance fell 8.33% to 33 Kobo, Regency Assurance fell 8.00 % at 23 Kobo, Sovereign Trust Insurance depreciated 7.69%. at 24 Kobo, and Mutual Benefits moderated by 3.57 percent at 27 Kobo.

In the last session of the week, Transcorp caught the attention of investors, selling the largest volume of shares with a turnover of 24.4 million units.

FBN Holdings sold 21.8 million units, Courteville traded 17.0 million shares, Fidelity Bank traded 12.6 million shares and Linkage Assurance traded 8.0 million shares.

Trade data revealed that the level of transactions improved yesterday, with the volume of transactions increasing by 50.13%, the value of transactions by 45.76% and the number of transactions by 1.61%.

As of the close of business, traders bought and sold 146.7 million shares valued at N1.2 billion in 3,028 trades, compared to 97.7 million shares worth N847.9 million. naira traded in 2,980 transactions on Thursday.

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