Nigerian stocks saw a recovery yesterday after going on five consecutive sessions of losses, with overall capitalization increasing by N41 billion due to investor interest in NASCON Allied Industries and 30 other equities.
The All-Share Index (ASI) increased by 75.16 points, or 0.12%, to close at 64,267.36 points. In addition, market capitalization increased by N41 billion to close at N34.973 trillion.
The recovery was fueled by price increases in big and medium-cap equities such as BUA Foods, Dangote Sugar Refinery, Skyway Aviation Handling Company, Lafarge Africa, and Nigerian Breweries.
Market sentiment was good, as assessed by market breadth, with 31 equities gaining while 26 equities lost.
Abbey Mortgage Bank, Chams Holding Company, and NASCON Allied Insurance all gained 10% to close at N1.21, 99 kobo, and N35.75 per share, respectively.
Skyway Aviation Handling Company gained 9.96% to close at N28.15 per share, while Dangote Sugar Refinery gained 9.93% to close at N32.65 per share.
Also, Thomas Wyatt Nigeria and The Initiates Plc (TIP) lead the losers' chart with a 10% decline to close at N1.30 and 72 kobo, respectively, while University Press followed with a 9.78% decline to close at N2.49 per share.
Read more: https://www.investingport.com/niger...ng-the-five-consecutive-trade-days-of-losses/