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Stock market rebounds with N36bn gain

Following the previous day’s loss, the stock market posted a positive performance in yesterday’s trade, gaining 17 basis points (bps) to settle at 40,465.15 points.…

Following the previous day’s loss, the stock market posted a positive performance in yesterday’s trade, gaining 17 basis points (bps) to settle at 40,465.15 points.

The positive performance was driven by appreciation in Zenith (+2 per cent), UBA (+2.4%) and INTBREW (+2.5%).

As a result, market capitalisation advanced by ₦36.1 billion to settle at ₦21.2 trillion while the year to date return improved to 0.5% and activity level decreased as volume and value traded fell 46.4% and 57.3% to 249.5 million units and ₦2.2bn respectively.

The most traded stocks by volume were Access (21.9m units), Mansard (13.3m units) and UBA (13.2m units) while Guaranty (₦342m), Zenith (₦310.4m) and Stanbic (₦306.2m) topped by value.

Performance across sectors was bullish as 4 of 6 indices under review gained save the AFR-ICT and Industrial Goods indices which closed flat.

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