Going by the renewed bargain hunting in the shares of some blue-chip companies, the Nigerian equities’ market reversed losses to close in an upbeat yesterday, causing market capitalisation to appreciate by N3 billion.
In summary, the all-share index (ASI) grew by 6.17 absolute points, representing an increase of 0.01 per cent to close at 41,813.27 points.
Similarly, the overall market capitalisation value gained N3 billion to close at N21.825 trillion.
The market gain was driven by price appreciation in large and medium capitalised stocks amongst which are Nigerian Exchange Group (NGXGroup), UPDC Real Estate Investment Trust, Zenith Bank, NEM Insurance and Morison Industries.
Vetiva Dealings and Brokerage said: “The banking sector continues to enjoy positive sentiments, as investors take up last minute positions in attractive counters like Access, Zenith and GTCO.
“With tomorrow being the last trading session of the week and the year, we expect a mixed session amid minimal activity level.”
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