Nigerian Bourse rebounds after ten straight losing sessions, closes 1.87% higher, Friday

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The Nigerian Stock market halts ten straight losing streak, soaring by 1.87 %, buoyed by gains in 17 stocks that made it to the green.

The All-Share Index closed at 35,266.29 points, away from the previous close of 34,618.43 points, while the market capitalization closed at N12.874trillion, adding N236billion above the N12.638trillion it close on Thursday.

Volume of shares traded rose by 57.40% to arrive at 374.319 million units from 237.808 million units traded in the previous session.

N2.722 billion worth of transaction was recorded against the previous N3.901billion, which represents 11.93% decline.

Market Breadth

With 17 stocks closing positive against 24 that closed negative, brought the market breadth to a negative round up.

Percentage Gainers

AIRSERVICE led the percentage gainers chart with 9.88% to close at N4.45 from N4.05. This is followed by Veritas Kapital Assurance, Japaul oil and Dangote Cement with 8.33%, 7.69% and 6.80% growth to close at N0.26, N0.28 and N220 respectively.

Percentage Losers

Law union and Unity Bank top the price percentage losers’ chart, both losing 10.00% of their share prices. Also on the red are Mutual Benefits, NEIMETH and Equity Assurance, all shedding 9.09% each, while Secure Electronic lost 8.00%.

Volume Drivers

Zenith Bank is the most actively traded stock for the day, having traded 15.871 million units of its share, valued at about N363.3 million in 283 deals

 

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