Gains by bank stocks helped spark a rebound in Nigerian equities on Friday, following three days of consecutive losses, with the benchmark index receiving a lift of 0.21 per cent. Investors adopted a risk-on mood that saw more shares purchases than sales even though volume dwindled by as much as 41 per cent.
Zenith, GTB and Union Bank contributed most to the advance. Also helping gains, the oil and gas index climbed highest out of the five sectorial indices tracked by the exchange, jumping 2 per cent to 285.19 basis points on the strength of buy pressure on energy giants Seplat and Oando.
A positive market breadth posted as there were 24 gainers against 17 losers.
The all-share index grew by 84.02 basis points to 39,198.75, while market capitalisation rose to N20.431 trillion. Year to date, the index is down by 2.66 per cent.
TOP FIVE GAINERS
Linkage Assurance led the gainers’ chart, appreciating by 9.52 per cent to close at N0.69. John Holt went up by 9.26 per cent to N0.59. Union Bank rose to N5.40, notching up 9.09 per cent in the process. Royal Exchange added 8.33 per cent to end the trade at N0.65. Consolidated Hallmark completed the top 5, climbing by 8.33 per cent to N0.39.
TOP FIVE LOSERS
NEM was the worst-performing stock, declining by 9.50 per cent to close at N1.81. Courteville shed 9.09 per cent to close at N0.20. Sunu Assurance fell to N0.54, losing 8.47 per cent. The Initiates slumped to N0.40, recording 6.98 per cent depreciation. Eterna closed at N5.81, going down by 6.89 per cent.
TOP FIVE TRADES
238.938 million shares estimated at N2.953 billion were traded in 3,947 deals.
Access was the most active stock with 40.471 million units of its shares worth N327.965 million traded in 380 deals. FBN Holdings shares of 33.655 million units and priced at N244.219 million exchanged hands in 227 transactions. Zenith had 25.513 million shares valued at N562.201 million traded in 396 deals. UBA traded 13.624 million shares estimated at N98.080 million in 182 transactions. GTB traded 11.897 million shares valued at N347.889 million in 308 deals.
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