Nigerian Stock Market rebounds as investors gain N1.52tn after week-long losses

The Nigerian banal marketplace bounced backmost powerfully on Monday, reversing a prolonged bearish inclination arsenic investors gained N1.52 trillion successful marketplace value.

Trading connected the Nigerian Exchange, NGX closed connected a affirmative note, with the marketplace capitalization of listed equities rising by N1.52 trillion, oregon 1 per cent, to N152.85 trillion from N151.33 trillion recorded astatine the adjacent of trading past week.

Similarly, the NGX All-Share Index, ASI precocious by 2,261.84 ground points, representing a 0.96 percent increase, to adjacent astatine 238,203.11 points, compared to 235,941.27 points successful the erstwhile session.

The rally was driven by beardown performances successful large Nigerian banking stocks. First HoldCo Plc and Guaranty Trust Holding Company Plc (GTCO) topped the gainers’ illustration with a 10.00 per cent appreciation each, portion Zenith Bank Plc roseate by 7.09 per cent.

On the losers’ chart, Eterna Plc led with a diminution of 9.90 per cent, followed by Deap Capital Management & Trust Plc, which shed 9.82 per cent, and Austin Laz & Company Plc, down by 9.74 per cent.

Market enactment besides improved significantly. Total trading measurement accrued by 8.05 percent to 475.82 cardinal shares from 440.36 cardinal shares recorded successful the erstwhile session. The worth of transactions surged by 47.86 percent to N36...