New Telegraph

NSE rebounds, records N50bn gain

Activities at the Nigerian Stock Exchange (NSE) closed positive yesterday, reversing three-day negative sentiments following gains recorded majorly by blue chip stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 0.38 per cent as market sentiments returned to gaining streaks following investors’ sustained optimism on undervalued stocks.

Consequently, the All- Share Index gained 96.06 basis points or 0.38 per cent to close at 25,520.97 as against 25,424.91 recorded the previous day while the market capitalisation of equities appreciated by N50 billion or 0.38 per cent to close at N13.313 trillion from N13.263 trillion as market sentiment returned to the green zone.

Meanwhile, a turnover of 236.48 million shares exchanged in 3,251 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume); with 74.39 million shares exchanged by investors in 1,190 deals. Volume in the subsector was largely driven by activities in the shares of FBNH Plc and Zenith Bank Plc. The banking sub-sector boosted by activities in shares of Fidelity Bank Plc and Wema Bank Plc followed with a turnover of 72.26 million shares in 706 deals. The number of gainers at the close of trading session was 22 while decliners closed at 12.

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