Nigerian equity market gains 0.19% despite rising Covid-19 cases



Despite the increasing cases of the Coronavirus (Covid-19) in the country, the Nigerian equity market appreciated 0.19 per cent on Tuesday as investors’ bargain hunting on some large and medium capitalized stocks.

The All-Share Index (ASI) was up by 40.18 absolute points, representing 0.19 per cent growth to close at 21,714.16 points, while the Market Capitalization gained N20.94 billion, representing an increase of 0.19 per cent to close at N11.33 trillion.

The gain recorded by the bourse was driven by appreciation by Stanbic IBTC (9.43 per cent), Oando (6.97 per cent), Access Bank (3.70 per cent) and Zenith Bank (2.34 per cent).

NPFMB added 9.52 per cent to top 18 other gainers, while CAVERTON emerged as the top loser after shedding 10 per cent.

Investors traded 330million units of equities worth ₦3.56billion as volume and value transactions declined by 29 per cent and 8 per cent respectively.

GTBank (7 8.89m units), Zenith Bank (7 7.9 1m units) and Access Bank (3 6.03m units) were the most active stocks by volume, while GTBank (₦1.31bn), Zenith Bank (₦852.87bn) and Nestle (₦484.55m) led by value.

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