The nation’s bourse returned to the positive territory on Thursday, rebounding by N15 billion following gains posted by FBN Holdings just as Nigeria’s GDP expanded.
Similarly, the market capitalisation rose by two billion naira.
Capital market analysts attributed the bullish sentiment to bargain-hunting by investors in depreciated stocks.
In spite of the drop in market indices, the total volume of trades increased by 5.5 per cent to 214.17 million shares valued at N1.34 billion.
The decline was driven by price depreciation in large, and medium capitalised stocks, including Enamelware, Eterna, Guaranty Trust Bank, Access Bank, and United Bank for Africa.
However, the volume of shares traded closed lower by 96.61 per cent.
The market gain was driven by price appreciation in large and medium capitalised stocks, including Conoil, Lafarge Africa, Guaranty Trust Bank, Eterna, and Union Bank of Nigeria.
