Nigerian Stock Exchange: Market Bounces Back after One Day Loss

The Nigerian Stock Exchange was up almost a 100 basis points today, rallying a from yesterday’s one-day decline. The bourse picked up 0.7% as the ASI settled north of yesterday’s close at 20,875.83.

Investor interest in low valuations of banking stocks helped to drive the market as the banking sub-sector picked up 2.50%. Three of the top four banks, First Bank (+4.96%), Zenith (+3.66%) and GTBank (+1.08%) all appreciated in today’s session even as UBA  (-4.76%) was the only top tier to retreat.

Skye (+2.65%), Fidelity (0.67%) and Diamond (4.74%) also closed in Northern territory. Most other banks including Sterling (2.20%), FCMB (+2.50%) and Access (0.90%) performed well except for Stanbic (0.85%) that lost marginally.

Guinness (+4.31%) and Nigerian Breweries (0.40%) led the Consumer Goods sector. Dangote Subsidiaries, Dangote Flour (-0.39%) and NAScon (-1.67%) failed to boost the sectors performance.

Top gainers today:

Top losers in today’s trading:

Most active stocks in today’s session were:

The volume of stocks traded decreased by 2% whlilst the value shot up 97%.

Market Capitalization closed up 45 billion Naira and stands at N 6.579 trillion.