Stock Market Rebounds; Gains N150b

market trend
  • Stock Market Rebounds; Gains N150b

The Nigerian Stock Exchange rebounded on Thursday following two days of consecutive losses.

The market capitalisation of listed equities rose from N14.99 trillion on Wednesday to N15.14 trillion on Thursday, representing an increase of N150 billion.

While the NSE All-Share Index grew by one percent to 29,352.13 basis points to push year-to-date return to 9.4 percent.

Accordingly, the activity level expanded as volume grew by 7.5 percent and value trade rose by 77 percent to 387.16 million units and N5.02 billion, respectively.

Access bank led the most active stock by volume with 74.6 million units, followed by Zenith Bank Plc 71.8 million units and Lafarge Africa Plc came third with 40.7 million units.

In terms of value, Zenith Bank led with N1.6 billion, Access bank N770.9 million and Lafarge Africa Plc did N629.9 million.

Performance was positive across sectors as only the industrial goods and insurance indices closed in the red, down by 1.5 percent and 1.2 percent respectively following sell-offs in Bua Cement Plc, Cutix Plc, AXA Mansard Insurance Plc and Lasaco Assurance 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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