Stock market rebounds, index appreciates by 0.9 per cent

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Nigeria Stock Exchange, Lagos

After days of constant decline, the bulls lastly acquired a foothold, as fairness transactions on the buying and selling ground of the Nigerian Stock Exchange (NSE), rebounded yesterday, following worth positive factors recorded by main extremely capitalised shares, because the All-share index rose by zero.9 per cent.

Specifically, on the shut of transactions yesterday, the All-Share Index (ASI) positive factors 377.55 absolute factors, representing a development of zero.93 per cent to shut at 40,992.97 factors from 40,615.42 recorded on Wednesday. Similarly, the market capitalisation of listed equities elevated N137billion from N14.712trillion to shut at N14.849trillion.

The bullish efficiency will be attributed to positive factors in Dangote Cement, Nestle Nigeria, Nigerian Breweries, Unilever Nigeria, and Dangote Sugar. However, market breadth closed destructive, recording 15 gainers in opposition to 30 losers.

On the value motion chart, Cutix recorded the very best worth acquire of 5 per cent, to shut at N3.15 per share. Unilever Nigeria adopted with a development of four.91 per cent to shut at N52.35 per share.

NPF Micro Finance Bank gained four.86 per cent to shut at N1.94 per share. Sovereign Trust Insurance appreciated by four.76 per cent to shut at 22 kobo, whereas AXA Mansard Insurance went up by four.70 per cent every to shut at N2.45 per share.

However, Skye Bank led the losers’ chart by 9.41 per cent, to shut at 77 kobo per share. Diamond Bank shed 9.15 per cent to shut at N1.49.Japaul Oil and Maritime Services depreciated by 5.71 per cent to shut at 33 kobo per share. Union Bank declined by 5.19 per cent to shut at N6.40, whereas Cement Company of Northern Nigeria down by 5 per cent to shut at N27.55 per share.

In line with improved market efficiency, exercise stage improved as quantity traded elevated by 27.6 per cent to 259.49 million models, valued at N4.36billion in four,000 offers. Transactions within the shares of Diamond Bank topped the exercise chart with 68.56 million shares valued at N102.23million.

Zenith Bank adopted with 33.82 million shares value N943.14million, whereas Guaranty Trust Bank traded 31.42 million shares valued at N1.38billion.FCMB Groups traded 16.89 million shares valued at N43.36million, whereas Trans-Nationwide Express transacted 10.1 million shares value N8.27million.

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