Nigerian stocks manage weak rebound after week of losses

February 24, 2021February 24, 2021 omotimehin nelson losses, manage, Nigerian, rebound, stocks, weak, week

Nigerian stocks found resilience on Tuesday after one week of losses as gains in the financial sector equities lifted the benchmark index by 0.03 per cent.

That underscored the place of the banking index in the day’s performance, considering that it advanced by 1.68 per cent while the remaining four sectorial indices either fell or closed flat.

Tier 1 lender Zenith Bank, supported by a 10.4 per cent lift in its 2020 profit announced on Tuesday, contributed in no small measure to the appreciation of overall equity value alongside GTB, UBA, United Capital and Flour Mills

Trade ended with a negative breadth with 25 losers recorded against 16 losers.

The All Share Index (ASI) closed at 40,164.86 points, just as market capitalisation climbed to N21.014 trillion at the end of trade. Year to date, the index is down by 0.26 per cent.

TOP FIVE GAINERS

Aiico led the flock of gainers today, appreciating by 7.14 per cent to close at N1.20. Livestock added up 7.14 per cent to end today’s trade at N2.25. Flour Mills went up by 6.16 per cent to N31. Zenith Bank rose to N26, notching up 4.84 per cent. Cutix completed the top 5, climbing by 4.64% to N400