Nigerian stocks rebound with N106 billion, driven by bank shares

Nigerian stocks appreciated by 0.43 per cent on Friday after slipping into the negative territory at the previous session as

Stocks also found resilience in the strong earnings performance of a number of 2021 company results that were released on Friday, among which was that ofWhether the market will remain bullish or bearish in the near time could be dominantly determined by more corporate scorecards that will be disclosed in the coming weeks.

Market breadth, which measures investors’ sentiment, closed on a positive note, with 39 gainers reported against 7 losers. The all-share index jumped by 195.82 basis points to 46,205.05, while market capitalisation closed climbed to N24.9 trillion.Cornerstone led gainers, appreciating by 10 per cent to close at N0.55. Vitafoam went up by 9.91 per cent to N24.40. ETI rose to N13.10, notching up 9.62 per cent in the process. Academy added 9.30 per cent to end trade at N0.94. NEM climbed by 9.06 per cent to N3.49.UPL was the worst performing stock, declining by 9.86 per cent to close at N2.65.

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