Stocks Rebound As Market Capitalisation Gains N208bn

The Nigerian stock market rebounded on Friday with a gain of N208 billion, as renewed buying interest supported investor sentiment across the bourse.
The All-Share Index (ASI) rose by 321.05 points, representing a gain of 0.13 per cent to close at 248,363.55 points. Also, market capitalisation gained N208 billion to close at N161.260 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), CAP, Oando, Unilever Nigeria and Livestock Feeds.
The recovery reflects mild bargain-hunting activities following the previous session’s sharp decline, although investor sentiment remains cautious.
Despite ...