NSE: Oil & gas gains drive market rebound | Ripples Nigeria
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NSE: Oil & gas gains drive market rebound



Stock market halts 11-Day bearish run as ASI up 0.36%

The Nigerian Stock Exchange (NSE) rallied on Friday, with gains in oil and gas stocks like Mobil and Ardova driving the rebound while Airtel, Zenith Bank, and C&I Leasing also contributed to the positive performance

The Oil and Gas Index performed best of the five sectorial indices, climbing higher by 1.88% to 220.30 inde points.

Market breadth was negative, with 20 losers to emerge against 15 losers.

The All Share Index (ASI) closed at 35,137.99 index points while market capitalisation grew to N18.365 trillion.

Year to date, the index is up by 30.91%.


Tripple Gee led gainers, appreciating by 10% to close at N0.66. Mobil added 9.20% to end trade at N228. Airtel advanced by 8.75% to N640. Mansard rose to N2.30, notching up 7.48% in the process. FTN Ccoa completed the top 5, climbing up by 7.41% to N0.29.


Royal Exchange topped the losers’ chart, declining by 8.33% to close at N0.22. Union Diagnostic shed 7.41% to end trade at N0.25. Consolidated fell to N0.26, losing 7.14%. Chams slumped to N0.22, recording 4.35% depreciation. Livestock closed at N1.21, going down by 3.97%.

READ ALSO: NSE: Profit-taking in blue-chip stock costs investors N46bn


292.861 million shares valued at N4.285 billion were traded in 4,392 deals.

FBN Holding was the most active stock with 40.525 million of its stocks worth N289.388 million traded in 293 deals. 35,254 million units of UBA shares priced at N295.905 million exchanged hands in 162 transactions. Access Bank had 32.305 million shares valued at N276.838 million traded in 207 deals. Mutual Benefits traded 28.444 million shares estimated at N6.441 million in 46 transactions. ETI traded 27.120 million shares valued at N148.028 million in 330 deals.

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