Equity market rebounds, gains N11bn
The domestic equity market on Wednesday rebounded, gaining N11 billion as bulls dominated the trading activities for the day.
Market capitalisation of listed equities appreciated by 0.02 per cent to N67.179 trillion from N67.168 trillion reported the previous day.
The NGX All Share Index also increased 17.20 basis points to 107798.99 points from 107781.79 points traded on Tuesday.
Volume of transactions decreased by 117.497 million, representing 32.37 per cent as investors traded 245.516 million shares valued at N8.414 billion in 10098 deals against 363.073 million shares costing N10.918 billion exchanged hands the previous day in 13753 deals.
The positive performance of the market was primarily driven by gains in the shares of Eterna Plc, United Capital, Afriprudential, Caverton Business Solutions, HoneyWell Flour, Wapic Insurance Uhomreit among others.
As a result, year to date return improved by 4.73 per cent as 30 firms closed in green against 15 companies that closed in red
A review of trading activities for the day showed that UhomReit led gainers table with 9.94;034 cent to close at N44.25 per unit, Afriprudential followed with a gain of 9.90 per cent to close at N33.30 per unit, Caverton Business Solutions added 9.87 per cent to close at N2.45 per share, Omatek gained 8.22 per cent to close at N0.79 per share, Lasaco Insurance up by 6.92 per cent to close at N3.09 per unit.
On the contrary, Guinea Insurance topped losers chart, dropping by 10 per cent to close at N0.72 per unit, Eunisell Plc trailed with a loss of 9.68 per cent to close at N9.80 per unit, TIP depreciated by 8.02 per cent to close at N3.67 per share, Oando Plc declined by 7.69 per cent to close at N48.00, Union Dicon down by 7.50 per cent to close at N5.55 per unit.
Transactions in the shares of Access Holding Company led market activities with 36.551 million shares valued at N937.925 million, Zenith Bank followed with account of 26.786 million shares worth N1.285 billion, Sterling Bank traded 11.249 million shares cost N62.300 million, Jaiz Bank exchanged 10.875 million shares valued at N36.110 million AIICO Insurance exchanged 10.786 million shares cost N17.942 million.
