Market rebounds as bulls show up on Custom Street
The bulls staged welcome return at the Nigerian Stock Exchange (NSE) on Thursday February 6, which helped the Bourse halt record loss trend seen lately.
As market sentiment turned positive, investors gain N27billion while the NSE All Share Index (ASI) increased by 0.17percent.
All NSE sectoral indexes closed in the green except NSE Consumer Goods and NSE Industrial Goods Indexes that closed negative. Twenty (20) stocks gained as against 16 losers.
The market’s year-to-date (YtD) returns currently stands at +4.84percent. Market analysts expect gains from Thursday’s session to filter into Friday. GTBank Plc rallied most after its share price increase from N29.1 to N30, adding 90kobo or 3.09percent.
Zenith Bank Plc also advanced from N19.2 to N20, adding 80kobo or 4.17percent, while Access Bank Plc rose from N9.35 to N9.75, adding 40kobo or 4.28percent.
MTNN dipped most, from N119.6 to N118.2, losing N1.4 or 1.17percent. BUA Cement Plc also decreased from N36.2 to N35, losing N1.2 or 3.31percent, while C&I Leasing decreased from N6.65 to N6, losing 65kobo or 9.77percent.
The NSE ASI increased from 28,093.76 points to 28,140.41points while the value of listed equities increased from N14.470trillion to N14.497trillion.
In 4,340 deals, equity investors exchanged 317,190,513 units valued at N3.429billion. FBN Holdings, FCMB Group, Zenith Bank, UBA, and Nigerian Breweries were actively traded stock.