Nigerian equities market rebounds with 0.70% growth




Nigerian equities market on Tuesday closed on an upbeat note with the All-Share Index growing by 0.70 per cent.

The News Agency of Nigeria (NAN) reports that the index rose by 214.27 points or 0.70 per cent to close at 30,822.33 against 30,608.06 on Monday.

Also, the market capitalisation which opened at N11.180 trillion inched higher by N75 billion to close at N11.255 trillion compared with N11.180 trillion on Monday.

Mobil Oil led the gainers’ table with N13. 40 to close at N170 per share.

It was trailed by Dangote Cement with a gain of N4 to close at N189, while Forte Oil appreciated by N2.15 to close at N23.85 per share.

Cement Company of Northern Nigerian garnered N1.70 to close at N18.85, while Guaranty Trust Bank increased by 95k to close at N35 per share.

Conversely, Nigerian Breweries recorded the highest loss, declining by N2.70 to close at N76.70 per share.

Unilever Nigeria came second with a loss of N1.05 to close at N37, while Guinness lost N1 to close at N72 per share.

Access Bank depreciated by 45k to close at N7.70, while Union Bank of Nigeria shed 10k to close at N8 per share.

An analysis of the activity chart indicates that the volume of shares traded grew by 47.09 per cent, while the value increased by 194.22 per cent.

Specifically, investors bought and sold 316.19 million shares valued at N5.09 billion exchanged in 3,445 deals.

This was in contrast with a total of 214.96 million shares worth N1.73 billion traded in 2,975 deals on Monday.

Zenith Bank was the most active stock, trading 102.39 million shares valued at N2.34 billion.

Mansard Insurance followed with an account of 40.06 million shares worth N80.12 million, while Lafarge Africa traded 25.91 million shares valued at N309.47 million.

Access Bank exchanged 22.21 million shares worth N179.12 million, while Guaranty Trust Bank sold 15.97 million shares valued at N553.78 million.




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