Stock market gains over N160bn in early trade on Wednesday

The Nigerian stock market, which has been declining earlier this week, saw an increase of almost N167 billion in early trade on Wednesday.

The market was up 0.30 percent as of 12:30 p.m., with its benchmark Index and equity value rising from the previous day's lows of 101,060.67 points and N55.298 trillion to 101,364.39 points and N55.465 trillion.

Market observers had expected the bearish trend to persist that has been evident since this week.
 

“We anticipate another bearish trading session, as interest in the equity market remains weak largely on the back of rate increase in the fixed income space,” Lagos-based Vetiva analysts had said at the close of trading on Tuesday.

As of 1:30 PM, 4,866 transactions had exchanged 108,134,288 shares for N1.956 billion among investors.