Nigerian equity market extends bullish trend, gains 0.53%

Stockbrokers during a trading session at the NSE

The Nigerian equity market sustained the previous day’s bullish trend on Thursday, gaining 0.53 per cent on the back of appreciation by the Insurance, Banking and Industrial sectors.

The All Share Index (ASI) added 154.20 absolute points, a 0.53 increase to close at 29,347.62 points, while Market Capitalization was up N57.92 billion, representing a 0.53 per cent rise to close at N11.02 trillion.

NEM appreciated 10 per to close at N2.20 to emerge top gainer among 15 other advancers, while Ikeja Hotel shed 9.76 per cent to close at N1.85 to top 6 other losers.

A total of 224.03 million shares worth N2.01 billion exchanged hands in 3,127 deals with Zenith Bank emerging the most active stock trading 45.37 million shares valued at N927.74 million.

The Nigerian Stock Exchange has lost  6.63 per cent this year.