Equity market rebounds with N301bn gain

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The Nigerian equity market on Wednesday closed the market in the green as investors began to take a position on the undervalued stocks. Key market indicators, the NSE ASI grew by 1.

68 per cent as market breath closed positive with 38 gainers against eight losers.

The market capitalisation of equities appreciated by N301bn or 1.68 per cent to close at N18.19tn from N17.89tn as market sentiment returned to the green zone. The premium sub-sector was the most active ; with 195.18 million shares exchanged by investors in 2,560 deals. The banking sub-sector boosted by activities in the shares of GTBank Plc and Fidelity Bank Plc followed with a turnover of 148.02 million shares in 1,294 deals.Linkage Assurance Plc and Sterling Bank Plc led the gainers’ table with a gain of 10 per cent each to close at 55 kobo and N2.09 per share, respectively.

 

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