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Bank stocks gains help stop Nigerian equities from sinking further

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A positive market breadth posted as there were 24 gainers against 17 losers.

The all-share index grew by 84.02 basis points to 39,198.75, while market capitalisation rose to N20.431 trillion. Year to date, the index is down by 2.66 per cent.Linkage Assurance led the gainers’ chart, appreciating by 9.52 per cent to close at N0.69. John Holt went up by 9.26 per cent to N0.59. Union Bank rose to N5.40, notching up 9.09 per cent in the process. Royal Exchange added 8.33 per cent to end the trade at N0.65. Consolidated Hallmark completed the top 5, climbing by 8.

Sunu Assurance fell to N0.54, losing 8.47 per cent. The Initiates slumped to N0.40, recording 6.98 per cent depreciation. Eterna closed at N5.81, going down by 6.89 per cent.Access was the most active stock with 40.471 million units of its shares worth N327.965 million traded in 380 deals. FBN Holdings shares of 33.655 million units and priced at N244.219 million exchanged hands in 227 transactions. Zenith had 25.513 million shares valued at N562.201 million traded in 396 deals. UBA traded 13.

 

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