Nigerian stocks extend gains, market cap rises above N13tn

The Nigerian stock market finished higher on Friday, extending its gaining streak to five days.

The All Share Index of the Nigerian Stock Exchange rose by 1.80 percent to close at 25,204.75 basis points.

The market capitalisation of equities increased to N13.14 trillion on Friday from N12.90 trillion on Thursday. It rose for five straight trading days since May 18, when it stood at N12.48 trillion, up from N12.44 trillion the previous day.  

Twenty-eight firms, led by 11Plc (formerly Mobil Oil Plc), saw their share prices rise at the close of trading on Friday.

11Plc appreciated by 9.97 percent to N 213.90 per share. It was followed by Conoil Plc, which gained 9.95 per cent to close at N21 per share.

Other top gainers were UAC of Nigeria Plc, PZ Cussons Nigeria Plc and BUA Cement Plc.

Sixteen firms suffered losses on Friday, with Caverton Offshore Support Group Plc leading the park.

Other losers include Afromedia Plc, Sunu Assurance Nigeria Plc, Royal Exchange Plc, and May & Baker Nigeria Plc.