Transactions on the Nigerian Stock Exchange (NSE) closed on positive note on Tuesday after more than one week of persistent price losses.
The News Agency of Nigeria (NAN) reports that the market capitalisation rose by N22 billion or 0.33 per cent to close at N6.630 trillion against the N6.608 trillion recorded on Monday.
Also, the All-Share Index, which opened at 20,722.40, appreciated by 66.43 point to close at 20,788.83 as a result of gains by some blue chips.
Analysts attributed the market rebound to low price of equities and impressive results declared by some quoted companies.
They told NAN that some investors were taking advantage of low priced equities to increase their holdings.
NAN reports that Nigerian Breweries recorded the highest price gain of N2.23 to close at N100.23 per share.
NCR followed with 65k to close at N13.66 per share, while Presco grew by 50k to close at N10.50 per share.
CAP appreciated by 50k to close at N24 per share, while FBN, which just declared a dividend of 80k per share, rose by 46k to close at N9.72 per share.
On the other hand, Total led the price losers’ chart with a loss of N6.98 to close at N132.71 per share.
Chevron trailed with N1.76 to close at N33.60 per share, while PZ shed N1.15 to close at N22.85 per share.
Conoil dropped N1.10 to close at N20.96 per share, while GlaxoSmithKline dipped by N1.02 to close at N19.98 per share.
In all, the volume of shares traded rose by 46 per cent as 483.24 million shares worth N3.20 billion were exchanged in 4,065 deals.
This was in contrast to the 330.29 million shares valued N1.22 billion traded in 3,309 deals on Monday.