Cornerstone Insurance stole the spotlight on Friday, November 14, as investors drove the Nigerian All-Share Index higher.
Trading 4.2 billion shares, Cornerstone accounted for 86% of total market turnover, signalling strong investor interest.
Cornerstone Leads Trading
Meanwhile, the ASI climbed to 147,013.59 points, up 32.42 points or 0.02%, reclaiming the 147,000 level after recent volatility.
Moreover, market activity surged, with traders exchanging 4.8 billion shares, a sharp increase from the previous day’s 599 million.
Consequently, market capitalisation rose to ₦93.5 trillion across 24,152 deals.
Market Gains Slowly Recover
On the gainers’ board, PRESTIGE and NCR led the rally, rising 9.84% and 9.64%, respectively, while GUINEAINS and ASOSAVINGS gained 9.57%. TIP followed with an 8.81% increase.
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However, UNIONDICON and TRIPPLEG tumbled nearly 10%, joined by ABCTRANS, REGALINS, and SOVRENINS, reflecting uneven market sentiment.
Stocks Move Mixed
Among the trillion-naira stocks, BUACEMENT, MTNN, and ARADEL advanced, whereas STANBIC, GTCO, UBA, and ZENITHBANK slipped.
ACCESSCORP and FIRSTHOLDCO showed no price movement.
In terms of value, Cornerstone dominated with ₦21.3 billion, far surpassing STANBIC and ACCESSCORP.
Analysts anticipate that renewed buying in large- and mid-cap stocks could push the ASI above 150,000 in the coming weeks, signalling a potential market recovery.
