Nigeria equity market records biggest gain in six months

Bargain hunting on large and medium capitalized stocks drove the Nigerian Stock Market to its biggest gain in six months.
The All Share Index (ASI) increased by 504.00 absolute points, representing a 1.91 per cent growth to close at 26,843.11 points.
Also, the Market Capitalization gained N245.34 billion, surging 1.91 per cent to close at N13.07 trillion.
Investors’ interest in Access Bank, Zenith Bank, Guinness Nigeria, UBA and Dangote Sugar’s stocks was instrumental to the appreciation the bourse had on Thursday.
The Financial Services sector made the highest leap, gaining 6.74 per cent on the back of gains posted by FBNH, Access Bank, Zenith Bank and GTBank. +9.64%), ZENITHBANK (+7.58%) and GUARANTY (6.79%). Furthermore,
Also, the Consumer goods and Oil & Gas sectors were up by 1.08 per cent and 0.98 per cent respectively due to buy interest in Guinness, Dangote Sugar and OANDO.
The Services and Healthcare sectors were also up higher by 0.20 per cent and 0.14 per cent respectively.
Investors traded to 624.8million units which was on 2.34 per cent more than the previous day’s traded volume, while value traded dropped by 9.75 per cent to N10.02billion.
EKOCORP emerged the top gainer of the 34 advancers, while Ikeja Hotel topped two other losers.
This development also saw the five major sectors closing positive; with the banking sector seeing the biggest move. Consequently, market breadth closed positive, recording 34 gainers as against 3 losers.
The market loss for 2019 was reduced to -14.60 per cent on Thursday.