Nigerian equity market recovers from two consecutive losses

The Nigerian equity market reversed its two consecutive trading days losses on Wednesday, spurred by rallies by bellwether stocks like Airtel Africa, Total, Seplat and 15 others.

The all-share index was up by 1.04 percent to close at 25,141.48 basis points being 257.78 points higher than 24,883.70 recorded on Tuesday.

Investors gained ₦134.5bn as market capitalisation advanced to ₦13.1tn while YTD loss moderated to -8.5%.
Investors traded 204.87 million shares valued at N3.83 billion in 3,636 deals as the market recorded 18 gainers and 11 losers.
Seplat led the gainers chart as it appreciated by N35.00 to close at N385.00.

Then Airtel Africa gained N32.00 to close at N380.00 and Presco gained N3.50k to close at N51.50k.
Top on the losers table was Buacement which lost 25k to close at N38.70k followed by Access bank with a loss of 15k to close at N6.40k. Zenith also lost 10k to close at N16.75k.

GTBank was the toast of investors accounting for 66,251 million shares worth over N1.6 billion followed by Access Bank with a turnover of 24,004 million shares worth N155.8 million.
The sectoral performances were mixed as some indices gained while others declined.

On the gainers side were the Oil and gas index which rose 5.24 percent, the consumer goods index gained 0.19 percent and the Insurance index rose 0.64 percent.
On the other hand, the banking index declined 0.35 percent while the Industrial index dipped 0.26 percent.