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Stock market rebounds with N50bn gain

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The Nigerian equity market closed in the green on Thursday as investors began to take position on the undervalued stocks. The Nigerian Stock Exchange All-Share Index grew by 0.

38 per cent as market breadth closed on a positive note with 22 gainers against 12 losers.

The market capitalisation of equities appreciated by N50bn or 0.38 per cent to close at N13.31tn from N13.26tn as market sentiment returned to the green zone. Premium sub-sector was the most active , with 74.39 million shares exchanged by investors in 1,190 deals. Banking sub-sector boosted by activities in the shares of Fidelity Bank Plc and Wema Bank Plc followed with a turnover of 72.26 million shares in 706 deals.Eterna Oil Plc led the gainers’ table with a gain of 9.69 per cent to close at N2.49 per share while C&I Leasing Plc followed with a gain of 8.45 per cent to close at N3.85 per share. Wema Bank Plc added 7.84 per cent to close at 55 kobo per share.

 

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