The Nigerian equity market rebounded 0.41 per cent on Monday, driven by gains recorded by major banking stocks.

The All Share Index (ASI) increased by 107.76 absolute points, representing a 0.41 per cent growth to close at 26,401.06 points, while the Market Capitalization added N52.45 billion, representing 0.41 per cent rise to close at N12.85 trillion.

The gains made by GTBank, Access Bank, Stanbic Bank and UBA were hugely responsible for the market recovery.

Champion Breweries added 10 per cent to top 17 other gainers, while Fidson also shed 10 per cent to emerge the worse performed stock among 11 others.

Access Bank was the most active stock in terms of value trading 650.01 million units valued at N80.57 million, while Zenith Bank was the most active with regards to volume, exchanging 777.18 units worth N45.53 million.

Services and Industrial goods sectors were up 0.35 per cent and 0.2 per cent respectively due to gains posted by NAHCO (+6.38%) and CCNN (+3.14%).

On the other hand, the Healthcare, Consumer goods and Oil & Gas sectors declined by 4.03 per cent, 0.12 per cent and 0.5 per cent respectively on the back of sell pressures on FIDSON (-10%), UNILEVER (-9.93%) and MRS (-9.73%).

Investors exchanged a total of 368.18 million units valued at N2.77 billion in 3,473 deals.

The Nigerian bourse has posted -16 per cent return this year.


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