NSE: Market rebounds as bank stocks dominate trade, up by N62.456bn

For the second time in three days, the Nigerian bourse rallied at the end of Friday’s trade, driven by bargain hunting activities in a couple of heavyweight stocks across the telecoms, industrial and construction sectors.

The uptrend in the market led all the key market indicators to end in the positive territory.

Consequently, a positive market breadth was recorded today as there were 18 losers against 13 losers.

The All Share Index (ASI) added 0.54% to close at 22,198.43 basis points while the market capitalisation rose to N11.568 trillion at the end of trade. Year to date, the index is down by 17.30%.

TOP 5 GAINERS

Prestige Assurance led gainers, appreciating by 10% to close at N0.55. Chams added up 10% to end today’s trade at N0.22. Union Diagnostic went up by 10% to N0.22. NASCON advanced to N9.40, notching up 9.94% in the process. UACN completed the top 5, climbing up by 9.03% to close at N7.85.

TOP 5 LOSERS

Presco was the worst performing stock today, declining by 9.89% to close at N36.45. Flour Mill shed 9.81% to close at N19.30. May & Baker fell to N1.79, losing 9.60%. NCR dipped to N2, recording 9.09% depreciation. PZ closed at N4.05, going down by 8.99%.

READ ALSO: Access Bank floats N15bn Green Bond on Luxembourg Stock Exchange

TOP 5 TRADES

379.483 million shares estimated at N3.424 billion were traded today in 4,669 deals.

Zenith Bank was the most active stock today with 95.396 million units of its stocks worth N1.151 billion traded in 1,251 deals. 36.519 million units of Fidelity Bank shares priced at N60.636 million exchanged hands in 141 transactions. GTB had 35.718 million shares valued at N650.897 billion traded in 501 deals. FBN Holdings traded 34.351 million shares estimated at N138.176 million in 258 transactions. Access Bank traded 32.308 million shares valued at N193.710 million in 331 deals.

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