Equity market reverses downturn, gains 0.68%

Nigerian Stock Exchanging in trading session

The Nigerian equities market made an upturn on Tuesday from yesterday’s loss, on the back of renewed positive trades.

The All Share Index (ASI) rose by 208.49 absolute points, representing an increase of 0.68 per cent to close at 31,007.25 points, Market Capitalization was up by N76.12 billion representing a 0.68 per cent appreciation to close at N11.32 trillion.

AXA MANSARD appreciated 9.89 per cent to emerged the topmost gainer among 24 advancers, while Linkage Assurance dropped -9.68 per cent to top the 14 losers list.

The upturn was impacted by gains recorded in medium and large capitalized stocks, amongst which are DIAMOND BANK (+9.86%), UBA (+6.67%), GUARANTY (+3.75%), FBNH (+2.70%), etc.

FBNH sold 63,915,597 shares worth N479.30 million to emerge the most active in terms of volume and value.

In all, investors exchanged 198,535,693 stocks valued at N2.11 billion in 2,802 deals with the banking sector, which increased 2.62 per cent according for bulk of the transactions.

The Nigerian bourse has slipped -18.92 per cent this year.