NSE: Market rebounds marginally as bank stocks drive trade | Ripples Nigeria
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NSE: Market rebounds marginally as bank stocks drive trade



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The Nigerian bourse rallied marginally today after successive days of heavy losses running into trillions of Naira.

There has been massive trading in bank stocks in recent times, largely triggering the downturn in the market and, ironically, bellwether bank equities reasonably accounted for the resilience the market witnessed today.

A positive market breadth was recorded today as there were 17 losers compared to 15 gainers. The All Share Index (ASI) inched up by 0.17% to close at 22,733.35 basis points. Market Capitalisation fell to N11.847 trillion at the end of today’s trade. Year to date, the index is down by 15.30%.


In value terms, Okomu Oil led advancers, appreciating by 8.50% to close at N60. Flour Mills added up 8.08% to end today’s trade at N21.4. Zenith Bank went up by 9.68% to N11.9. GTB advanced to N19, notching up 4.97% in the process. UBA completed the top 5, climbing by 9.82% to close at N6.15.


Seplat was the worst performing stock today, declining by 10% to close at N544.5. Nigerian Breweries shed 5.72% to close at N28. International Breweries fell to N5.75, losing 9.45%. Cadbury dipped to N4.95, recording 10% depreciation. Access Bank closed at N5.4, going down by 7.69%.

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733.199 million shares estimated at N10.216 billion were traded today in 6,703 deals.

GTB was the most active stock today with 162.149 million units of its stocks worth N2.996 billion traded in 1,132 deals. 161.144 million units of Zenith Bank shares priced at N1.824 billion exchanged hands in 1,497 transactions. FBN Holdings had 120.089 million shares valued at N477.197 million traded in 579 deals. UBA traded 73.691 million shares estimated at N443.439 million in 560 transactions. Nigerian Breweries traded 27.938 million shares valued at N782.621 million in 76 deals.

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