Banking stocks on the Nigerian Stock Exchange (NSE) Friday drove market performance northwards as the NSE All Share Index gained 227.76points to close at 20,373points.
This development follows a seamless process in merger deals amongst banks this week. Also, the NSE market capitalization rose to N6.49trillion at the end of trading on Friday.
Banking sector stocks dominated transaction on the nation’s bourse, driven by activity in the shares of Diamond bank, Fidelity bank, UBA, Stanbic IBTC, and FirstBank.
Equity investors in 3,662 deals traded 252.255million shares valued at N1.45billion. Nigerian Breweries led gainers with N3.80kobo to close at N79.98kobo. Flour Mills dipped most by N3.01kobo to close at N59.55kobo.
