Nigerian Stock Gains 0.06% to Halt Losses

• Nigerian Stock Gains 0.06% to Halt Losses

The Nigerian Stock Exchange (NSE) closed in the green for the first time in 8 days on Friday after the market gained 0.06 percent.

Large-cap stocks like Forte oil and Dangote Cement bolstered the market upsurge despite weak sentiment.

The market capitalisation appreciated by N8 billion from N13.225 trillion recorded on Thursday to close at N13.233 trillion on Friday.

Similarly, the NSE All-Share Index gained 17.55 points from 30,029.15 points to close at 30,046.70 points.

A sectorial break down showed the oil sector gained the most, rising by 1.12 percent.

Followed by the insurance sector and banking sector that gained 0.30 percent and 0.23 percent, respectively.

The consumer goods sector, however, weighed on the stock market, losing 1.04 percent, while the industrial sector dipped 0.21 percent.

A total of 18 stocks recorded gains with Forte oil leading the chart. Forte Oil gained N2.65k to N29.40 per share. While Dangote Cement rose slightly by N1 to N184 a share.

Nigerian Breweries and MTN Nigeria grew by 50 kobo each to N58 and N135.60k per share, respectively. GTBank added 20 kobo to close at N31 per share.

On the other hand, Nestle Nigeria, International Breweries, Lafarge Africa, Zenith Bank and Dangote Sugar closed in the red.