Stock market begins Q3 with N14bn gain


The stock market witnessed a bounce back on Thursday, the first trading day in August, as it gained a meagre N14bn.

The market, which had recorded a year-to-date loss of -11.8 per cent as of the last day in July, saw its capitalisation increase from N13.508tn on Wednesday to N13.522tn on Thursday.

Gains recorded in stocks under the consumer goods index contributed majorly to the positive performance in the market as the index emerged the lone gainer, appreciating by 0.08 per cent.

On the flip side, all other sectors closed on a negative note, with the banking index leading the laggards as it depreciated by 0.96 per cent due to major losses recorded in Guaranty Trust Bank Plc, Access Bank Plc and Ecobank Transnational Incorporated.

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