Heavy profit-taking pressured market performance.
The Nigerian stock market has recorded its second positive performance in the week, as N13 billion was added to investors’ wealth.
The market closed at N95.264 trillion.
Market capitalisation rose by N479 billion, or 0.52 per cent, to close at N92.730 trillion, compared with N92.251 trillion on Wednesday.
The company blamed “the prevailing economic realities which have impacted significantly on our current cost of doing business” for the price increase.
The bears dominated the domestic equity market as market capitalisation lost N20 billion or 0
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are: BUA Foods, WAPCO, FBN Holdings and Accesscorp.
The gain made the market capitalisation to close at N27.358 trillion from N27.276 trillion recorded on Thursday.
The development will place Guinness Nigeria in the league of other businesses like Unilever and Dunlop that have left Nigeria for Ghana.
The upturn was impacted by gains recorded in large and medium capitalised stocks.
