By TAIYE OLAYEMI

The stock market sustained its positive momentum on Friday, closing the week with N344 billion gain in market capitalisation.

The market’s upward movement was driven by gains in equities like: Aluminium Extrusion Industry, Daar Communications, RT Briscoe, Learn Africa, Red Star Express and 25 other stocks.

The market capitalization increased by 0.22 per cent, adding N344 billion to investors’ portfolio as the market opened at N159.733 trillion and closed higher at N160.077 trillion.

Similarly, the All-Share Index (ASI) rose by 0.22 per cent, advancing by 536.98 points to close at 249,712.37, compared to 249,175.39 recorded on Thursday.

Consequently, the year-to-date (YTD) return rose to 60.47 per cent as the market breadth also closed positive with 30 gainers and 27 losers.

Aluminum Extrusion Industry and Daar Communications led the gainers’ chart by 10 per cent each, finishing at N9.90 and N2.09 per share respectively.

RT Briscoe gained by 9.93 per cent, closing at N14.06, Learn Africa increased by 9.79 per cent, ending the session at N12.90 while Red Star Express grew by 9.56 per cent, settling at N34.95 per share.

Conversely, Trans-Nationwide Express led the losers’ chart by 9.92 per cent, ending the session at N5.72, Livestock Feeds trailed by 9.64 per cent, settling at N8.90 and The Initiates shed by 8.65 per cent, finishing at N33.80 per share.

Also, Ellah Lakes dipped by 8.64 per cent, closing at N10.05 and Neimeth Pharmaceuticals declined by 6.36 per cent, finishing at N10.30 per share.

The market activity declined for the day, as total volume traded fell by 32.76 per cent to 711.86 million shares worth N29.08 billion exchanged in 62,386 transactions.

Fidelity Bank emerged as the most active stock by both volume and value, with 198.08 million shares traded valued at N4.59 billion.

This represented 27.83 per cent and 15.80 per cent of the day’s total volume and value, respectively. (NAN)

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