Amidst the adverse impact of the coronavirus pandemic on global economies, the Nigerian equity market rallied on Thursday after previous loss, driven by bargain hunting on Zenith Bank, Access Bank and 22 other stocks.
The All-Share Index (ASI) increased by 27.99 absolute points, representing a growth of 0.13 per cent to close at 21,757.47 points as the Market Capitalization gained N15.20 billion, representing a growth of 0.13 per cent to close at N11.34 trillion, as the bourse year-to-date return moderated to -18.9 4 per cent.
UBN, MORRISON & UCAP led 21 other gainers, while Nestle emerged top loser among 7 others.
The level of activities in the Nigerian equity market was lower as the volume and value of transactions traded dipped 26 per cent and 16 per cent to 172million units and ₦1.8 8billion respectively.
Zenith Bank (4 0.6 0m units), UBA (1 5.9 4m units) and Sterling Bank (1 3.1 8m units) emerged the most active in volume terms, while Nestle (₦594.7 9million), Zenith Bank (₦488.8 4million) and GTBank (₦138.7 0million) led by value.