Nigeria’s stock market rebounded this week with the all share index reaching a 10-month high, following improved stability and liquidity in the currency space and stability in the macro environment, as the MPC, left key parameters unchanged.
The key index added 3.38 percent to close at 29,064.52, boosted by Friday’s gain of 2.10 percent.
The banking index recorded the largest gain, owing to demand for the shares of Gtbank, Zenith Bank And Stanbic IBTC.
Market breadth remained positive, with 41 gainers topped by UAC-Property with 25.88 percent versus 25 losers led by Cadbury with 11.55 percent.
Total volume traded declined by 17.35 percent to 1.88 billion shares, with Diamond Bank, Access, and Zenith Bank accounting for 42.60 percent of the market volume.
The value of trades also reduced by 18.92 percent to N20.05 billion.