Business
Banking sector reverses Nigerian equity market downtrend, gains 0.01%
Stockbrokers at the floor of the Nigerian Stock Market
The Nigerian equity market appreciated 0.01 per cent on Thursday after three consecutive losses, on the back of gains recorded by the the banking sector.
The All Share Index (ASI) added 4.05 absolute points, amounting to 0.01 per cent to close at 30,833.50 points, while Market Capitalization was up N1.53 billion, representing a 0.01 per cent growth to close at N11.59 trillion.
C&I Leasing added 9.9 per cent top other 13 gainers, while Sovereign Trust Insurance shed 9.09 per cent to emerge the top loser among 16 others.
Investors in 74 deals exchanged 1.7 billion of Wema Bank shares valued at N1.2 billion, making it the most active stock on Thursday.
It was follwed by Chams with 99.5 million of its shares valued at N19.9 million traded in 60 deals and UBA, which sold 17.3 million shares valued at N133 million traded in 275 deals.
Investors exchanged a total of 1.92 billion shares worth 2.8 billion in 2,807 deals.