Nigerian equity market rebounds after 5 days of sell-off, post 0.17% gains

Nigerian equity market rebounds after 5 days of sell-off, post 0.17% gains

The Nigerian equity market bounced back from the five trading days after 5 days of sell-off, propelled by COVID-19 and oil price slump with 0.17 per cent gain on Thursday, on the back of bargain hunting in bellwether stocks.

Consequently, the All-Share Index (ASI) was up by 38.19 absolute points, representing a growth of 0.17 per cent to close at 22,734.07 points, the Market Capitalization gained N19.90 billion, rising 0.17 per cent to close at N11.85 trillion.

Fidelity Bank, Mansard, Aiico, UBA and Zenith Bank emerged the highest price gainers’ on the chart, while NEM, Seplat, Afriprud, Cadbury and Caverton topped the losers’ chart. In all, there were 17 gainers and 15 losers.

The volume traded decreased by 30.76 per cent from 1058.915 million to 733.199 million, while the total value of stock traded increased by 4.18 per cent from ₦9.806 billion to ₦10.216 billion in 6,703 deal.

The Financial Services sector led the activity chart with 616.123 million shares exchanged for ₦6.034 billion, it was followed by Consumer Goods with 37.181 million shares traded for ₦2.959 billion, Conglomerates, Oil and Gas and ICT sectors.

GTBank was the active equity in terms of volume and value, having traded 162.15 units stocks worth almost N3 billion.