Nigerian stocks rebound as strong corporate result draws investors

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The all-share index jumped by 120.6 basis points to 48,675.3, while market capitalisation closed rose to N26.3 trillion.

NEM led gainers, appreciating by 10 per cent to close at N4.84. Stanbic IBTC went up by 8.93 per cent to N10. ETI rose to N10.80, notching up 8 per cent in the process. Cutix added 7.37 per cent to end trade at N2.04. NEM climbed by 6.90 per cent to N0.31.Fidson was the worst performing stock, declining by 9.80 per cent to close at N9.11. FTN Cocoa shed 9.09 per cent to close at N0.30.NNFM fell to N7.50, losing 3.23 per cent. Unity Bank declined to N0.42, recording 2.33 per cent depreciation.

NEM was the most active stock with 1.7 million units of its shares worth N7.8 million traded in 50 deals. Stanbic IBTC traded 2.8 million shares priced at N86.7 million in 177 transactions. ETI had 207,232 shares valued at N2.2 million traded in 15 deals. Cutix traded 1 million shares estimated at N2 million in 32 transactions. Mutual Benefits traded 2 million shares valued at N620,611 in 17 deals.

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