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Equity market rebounds with N52bn profit

By on September 28, 2017

Trading on equity on the floor of the Nigerian Stock Exchange (NSE) closed yesterday on a positive note after two days of bearish trade, as the market capitalization added N52 billion to close at N12,100 trillion.

The rebound is coming after Nigeria’s central bank left the benchmark interest rate unchanged at 14% in September.

The NSE All Share Index (ASI) appreciated by +0.44% to close at 35,103.40 basis points as against -1.15% depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at +30.62%.

Market breadth closed positive as CHAMPION led 24 gainers as against 22 losers topped by MORISON at the end of yesterday’s session – an improved performance when compared with previous outlook.

The summary of the market activities revealed that a total of 136 million shares, valued at N1.2 billion, exchanged hands in 2,860 deals