Nigeria Stock Exchange, Lagos
Equity transactions on the trading ground of the Nigerian Stock Exchange rebounded from 12-day downtrend yesterday, as most blue-chip shares appreciated in worth, inflicting market capitalisation to extend by N47 billion.
Specifically, on the shut of trading yesterday, the All-Share Index (ASI) gained 130.81 factors, representing a progress of zero.36 per cent to shut at 36,947.10 factors.
Similarly, market capitalisation gained N47 billion to shut at N13.383 trillion.
The progress was impacted by features recorded in medium and huge capitalised shares, amongst that are; Nigerian Breweries, Guaranty Trust Bank, Mobil Nigeria, Zenith Bank and FBN Holdings.
Analysts attributed the fairness reversal to the successive weeks of losses. While analysts at United Capital expressed optimism that traders would hunt for bargains this week. Afrinvest Securities Limited stated: “Whilst we are cautiously optimistic on the sustainability of today’s market rebound, we expect bargain hunting in large cap value stocks to continue driving positive performance in the near term.”
The market breadth closed the identical, recorded 21 gainers and losers. Japaul Oil recorded the best worth acquire of 9.09 per cent, to shut at 21 kobo per share. Custodian and Allied Insurance gained four.92 per cent to shut at N5.12, whereas Eterna appreciated by four.90 per cent to shut at N6.64 per share.
Guaranty Trust Bank appreciated by four.53 per cent to shut at N40.40, whereas Aiico Insurance went up by three.45 per cent to shut at 60 kobo per share.
On the opposite hand, Oando led the losers’ chart by eight.96 per cent, to shut at N6.10 per share. Cadbury Nigeria adopted with a decline of eight per cent, to shut at N11.50, whereas Presco depreciated by 5 per cent to shut at N71.25 per share.
PZ Industries was down by four.81 per cent to shut at N20.80, whereas Sterling Bank shed four.69 per cent to shut at N1.22 per share.
However, the entire quantity traded declined by 39.16 per cent to 314.43 million shares, price N7.03 billion, and traded in 6,zero16 offers. Transactions within the shares of Guaranty Trust Bank topped the exercise chart with 67.16 million shares valued at N2.68 billion. Sovereign Trust Insurance adopted with 33.01 million shares price N8.89 million, whereas FBN Holdings traded 19.6 million shares valued at N202.21 million.
Diamond Bank traded 17.31 million shares valued at N23.7 million, whereas Zenith Bank transacted 15.13 million shares price N385.7 million.