Nigerian stock market rebounds by 0.21%

Trading on the floor of the Nigerian Exchange Limited closed the week in a positive territory, as the All-Share Index rose by 0.21 per cent to close at 39,198.75 basis points.

The market capitalisation also rose by 0.21 per cent to close at N20.43tn, amid a renewed bargain hunting activity, leaving investors with a gain of N39.05bn.

At the close of trading session on Friday, the year-to-date loss of the ASI fell to -2.66 per cent, with the market recording 25 gainers and 17 losers.

Buying pressure on blue-chip and Tier-1 banking stocks such as Seplat Petroleum Development Company, Guaranty Trust Bank, Access Bank and Zenith Bank increased their share prices by 2.58 per cent, 0.86 per cent, 0.62 per cent and 1.14 per cent respectively.

Three out of the five indices tracked closed in the green zone, these were banking, consumer goods and oil and gas indices which rose by 1.11 per cent, 0.05 per cent and 2.00 per cent respectively.

The insurance and industrial indices, however, moderated by 1.07 per cent and 0.12 per cent respectively.

Trading activity was weak as total volume and value of stocks traded fell, the total deals rose by 0.38 per cent.

At the close of the day’s trading session, the total volume of stocks declined by 33.06 per cent to 238.93 million units, valued at N2.95bn in 3,947 deals.

Ehime Alex
Ehime Alex
Ehime Alex reports the Capital Market, Energy, and ICT. He is a skilled webmaster and digital media enthusiast.

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