The Nigerian equity market on Friday rebounded, gaining N65 billion as bulls dominated trading activities during the day.
The market capitalisation of listed equities appreciated by 0.10 per cent to N65.819 trillion from N65.754 trillion reported the previous day.
The NGX All Share Index also increased by 104.19 basis points to 104962.96 points from 104858.77 points recorded the previous day.
The positive performance during the day was driven by gains recorded in the stocks of Oando Plc, TranscoHotel, UBA, Unilever Nigeria Plc, Fidelity Bank, Ecobank Transnational incorporated among others.
Investor sentiment remains high as advancers outweigh losers while market breadth closed positive with 29 stocks recording gain, while only 21 companies closed in negative direction.
As a result year to date return increased by 1.98 per cent. An analysis of the transactions during the day showed that Linkage Assurance led gainers table with 10 per cent to close at N1.43 per unit, Livestock Feeds followed with a gain of 9.93 per cent to close at N8.41 per share, Mutual Benefits added 9.84 per cent to close at N0.67 per unit, United Bank for Africa gained 5.75 per cent to close at N36.80 per share, Oando Plc increased by 5.59 per cent to close at N51.00 per unit.
On the contrary, Redstarex topped losers chart with 9.91 per cent to close at N4.82 per share, Learn Africa trailed with a loss of 9.85 per cent to close at N3.02 per share, Entranzact dipped by 9.43 percent to N4.80 per unit, Wapic Insurance dipped by 9.39 per cent to close at N2.22 per share, Ikeja Hotel down by 9.35 per cent to close at N9.70 per unit.
The volume of trades increased by 6.247 million, representing 27.91 per cent as investors traded 397.208 million shares valued at N14.170 billion in 10099 deals against 310.527 million shares valued at N6.247 billion in 10182 deals.
Trading in the shares of Fidelity Bank led market activities with 62.271 million shares valued at N1.062 per share, Access Holdings company followed with account of 38.326 million shares cost N843.683 million, Tantalizer traded 31.992 million shares worth N99.179 million, Veritas Kapital traded 31.427 million shares valued at N38.409 million while Zenith Bank exchanged 22.677 million shares cost N1.055 billion.