Nigerian equity market halts seven losing streak, gains 1.70%

Appreciation recorded by Access Bank, Zenith Bank, MTNN and 20 other stocks helped the Nigerian equity market end a seven trading days downtrend on Tuesday.

The All-Share Index (ASI) increased by 438.54 absolute points, representing 1.70 per cent  growth of to close at 26,255.11 points, the Market Capitalization gained N231.91 billion, representing 1.70 per cent  appreciation to close at N13.68 trillion.

PZ topped 22 other gainers while ABCTRANS  shed 10 per cent to lead 11 other losers.

The volume stocks investors traded increased b y 19 per cent to 387million units, while value traded declined by 16% to ₦5.07billion.

GTBank emerged the most active stock with  83.12million units exchanged at ₦2.01billion, while Zenith Bank followed with 54.55million units valued ₦1.04billion.

Across sectors, performance was bullish as four of the eight indices with the banking sector leading the pack with 7.99 per cent rise, buoyed by gains in ACCESS (+9.74%), ZENITHBANK (+8.59%), GUARANTY (+7.93%) and MTNN (+4.55%), ICT  sector was up 3.0 7 per cent; consumer goods 2.50 per cent and Services sector 1.36 per cent.