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NSE: Bank stocks dominate trade as market redounds



The equity segment of the Nigerian Stock Exchange rallied on Wednesday as bank stocks dominated trade even though turnover, as it had been in recent time, was still well below its pre-pandemic levels.

The Oil and Gas Index overturned its Tuesday’s poorest performer status among the five sectors assessed to become investors’ first choice, jumping 4.58% to 170.34 basis points.

There was a floodgate of companies’ financial results during the day, with quarterly and half-year financial statements pouring in in their numbers

The market recorded ended with a positive breadth, causing 19 gainers to emerge against 14 losers.

The All Share Index (ASI) edged up by 0.18% to end the day at 24,693.73. Market capitalisation climbed to N12.882 trillion.

Read also: NSE: Profit-taking in heavyweight stocks halts one-day rally

Year to date, the index is down by 8%.


Cornerstone topped the gainers’ chart, appreciating by 10% to close at N0.55. Seplat added up 10% to end trade at N310.20. Prestige went up by 8.70% to N0.50. Smurfit leapt to N0.20, notching up 5.26% in the process. PZ completed the top 5, climbing up by 5.13% to N4.10.


NPF Microfinance led losers, declining by 9.92% to close at N1.18. Arbico shed 9.74% to end trade at N1.39. Studio Press fell to N1.80, losing 9.55%. NAHCO slumped to N2, recording 4.76% depreciation. Japaul closed at N0.22, going down by 4.35%.


101.587 million shares estimated at N973.637 million were traded in 3,685 deals.

GTB led trade with 10.869 million units of its stocks worth N244.683 million traded in 339 trades. 9.716 million units of FBN Holdings shares priced at N49.142 million exchanged hands in 231 transactions. UBA had 9.446 million shares valued at N58.598 million traded in 192 deals. ETI traded 6.081 million shares estimated at N25.428 million in 97 transactions. Sterling Bank traded 6.991 million shares valued at N88.110 million in 202 deals.

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