Equity Market Halts 5day Consecutive Losses with 0.39% Growth in Lead Indices

Following successive decline in the previous five trading sessions, the Nigeria equity market Wednesday saw positive reaction from investors, as the market performance indicators grew by 0.39% amid bargain hunting on some middle and large capitalized stocks.

Following successive decline in the previous five trading sessions, the Nigeria equity market Wednesday saw positive reaction from investors, as the market performance indicators grew by 0.39% amid bargain hunting on some middle and large capitalized stocks.

As a result, market breadth closed positively, recording 19 gainers as against 13 losers. 

The All Share Index (ASI) increased by 105.95 absolute points, representing a a growth of 0.39% to close at 27,153.53 points.

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Similarly, the Market Capitalization gained N20.56 billion, representing a surge of 0.39% to close at N13.21 trillion.

MAYBAKER emerged the top gainer  while CHAMS emerged as top loser.

However, the volume of shares traded closed lower with a turnover of 211.52 million shares, worth N1.45 billion in 4,365 deals.

This is in contrast with a turnover of 364.22 million shares valued at N4.86 billion traded in 4,629 deals on Tuesday.

Transactions in the shares of Courteville Business Solutions topped the activity chart with 35.20 million shares valued at N7.74 million.

Sterling Bank came second with 34.69 million shares worth N78.09 billion, while Access Bank accounted for 29.95 million shares valued at N208.42 million.

Transcorp traded 15.85 million shares worth N16.05 million, while United Bank for Africa sold 12.47 million shares valued at N77.46 million.