Equity market rebound, gains N79bn
Transactions on the floor of Nigerian Exchange NGX) on Thursday took upward direction, appreciating by N79 billion.
Market capitalisation of listed equities increased by 0.12 per cent to N66.518 trillion from N66.436 trillion reported on Wednesday.
The NGX All Share Index also appreciated by 130.24 basis points to 106220.62 points from 106090.38 points traded the previous day.
Volume of trades went down by 1.156 billion, representing 77.19 per cent as investors traded 341.708 million shares valued at N16.654 billion in 11233 deals.
The positive performance of the market during the day was supported by gains in the stocks of Afriprudential, Oando, Zenith Bank NGX group, Nigerian Breweries, May and Baker, CWG among others.
As result, year to date return went up by 3.20 per cent as gainers of 36 companies dominated market activities against 20 decliners.
An analysis of the investment showed that UPDC led gainers table with 9.92 per cent to close at N2.77 per unit, International Breweries followed with gain of 9.62 per cent to close at N5.70 per unit, Royal Express gained 9.59 per cent to close at N0.80 per unit, Multiverse gained 8.81 per cent to close at N8.65 per unit, NGX group up by 6.14 per cent to close at N32.85 per share.
Conversely, UPL topped losers chart declining by 10 per cent to close at N4.32 per share, Academy Press trailed with a loss of 9.66 per cent to close at N2.62 per unit, Redstarex down by 9.32 per cent to N5.65 per share, Neimeth international Pharmaceutical dropped by 8.33 per cent to close at N2.75 per share, C&I Leasing fell by 4.75 per cent to close at N3.81 per share.
Trading in the shares Tantalizer led market activities with 29.621 million shares valued at N98.007 million, Access Holdings company followed with account of 29.164 million shares cost N693.280 million, Zenith Bank traded 28.733 million shares valued at N1.377 billion, GTCO Plc exchanged 26.685 million shares worth N1.625 billion, Universal insurance traded 20.948 million shares valued at N12.161 million.
