Stock Market Rebounds After Five Consecutive Days of Losses

Forex Market
  • Stock Market Rebounds After Five Consecutive Days of Losses

The Nigerian Stock Exchange (NSE) on Thursday halts five consecutive days of bearish trend to close in the green.

The market capitalisation of listed equities rose 0.17 percent or N23.9 billion to close at N14.4 trillion.

While the NSE All-Share Index gained 34.4 basis points to close at 27,568.91 basis points, up from the 27,523.08 basis points recorded on Wednesday.

The activity level was mixed as volume traded rose by 37.2 percent to 485 million shares while the total value traded declined by 28.6 percent to N3.6 billion. Sovereign Trust Insurance Plc led the most active stocks with 200 million shares, while GTBank and Zenith Bank Plc followed with 56.3 million shares and 36.7 million shares, respectively.

In terms of value traded, GTBank led with N1.6 billion; Zenith Bank plc did a total of N713.9 million with United Bank for Africa Plc coming third with N247.5 million.

The most traded stocks were premium board listed stocks with 111.1 million shares exchanged in 1,642 deals, largely aided by Zenith Bank Plc and the United Bank for Africa Plc.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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