Nigeria Stock Market rebounds, gained N107bn

Oluwanifemi Ojo
Oluwanifemi Ojo
Stock Market

The Nigerian Exchange Limited rebounded again as investors gained N107 billion on Wednesday despite the market’s recorded N1bn loss on Tuesday.

The Punch reported that the All-Share index appreciated by 0.35 percent to 55,801.14 and market capitalization increased by 0.35 percent also to N30.397 trillion.

Meanwhile, the ASI has moved 4,205.48 points since the start of the year, and the year’s total returns had reached 8.15 percent.

According to The Punch, “In terms of volume, 152,742,743 million shares were traded on the floor of the exchange in 3,293 deals, worth N3.572bn.”

It was also reported that the market breadth was flat as 18 stocks had their share prices rise while 18 equities declined in value.

Trans National Express plc, Cutix, and FTN Cocoa led the gainers with gains of 9.88 percent, 8.50 percent, and 7.69 percent to close the market at N0.89, N2.17, and N0.28 per share, respectively.

However, MRS, which dropped 9.98 percent of its value to close at N27.95, ABC Trans, which lost 7.89 percent to close at N0.35, and Chams, which fell 7.41% to close at N0.25, all led the losers’ table at the close of trade.

According to The Punch, while 6,261,268 million shares of Zenith Bank, valued at N162.465 million, were traded in 249 deals, the Financial Services sector continued to dominate the NGX’s most active chart on Wednesday. GTCO came in second with 12,749,020 worth N335.933 million traded in 227 deals.

The report also disclosed that after the close of trading, MTN Nigeria was the third-most actively traded stock on the NGX, with 189 transactions involving 598,909 shares worth N148.903m.

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