NGX Rebounds 0.70%, Investors Gain N313 Billion

The Nigerian Exchange Ltd. (NGX) All-Share Index benchmark rebounded on Thursday, recovering from its previous loss by 0.70 per cent or 572.7 points, settling at 82,597.08.

The market All-Share Index on Wednesday had declined by 1.4 per cent, closing at 82,024.38.

Consequently, investors gained N313 billion, as the overall market capitalization, which opened at N44.885 trillion, appreciated by 0.70 per cent to close at N45.198 trillion.

As a result, the Year-To-Date (YTD) return rose to 10.46 per cent, while the market breadth closed positive with 45 equities on the gainer’s table and 22 others on the loser’s.

Market statistics indicated that the improved performance was mainly due to investors gaining in MTN Nigeria, BUA Cement, and Zenith Bank.

Specifically, 877.28 million shares valued at N14.41 billion were exchanged in 14,919 deals, as against 1.64 billion shares at N25.38 billion exchanged in 20,223 deals on Wednesday.

On the gainer’s table, Guinea Insurance and Royal Exchange led in percentage terms, each gaining 10 per cent, closing at 44k and 99k per share, respectively.

Julius Berger followed, gaining 9.92 per cent to close at N5.10 per share.

Also, Cadbury gained 9.77 per cent, closing at N21.90 per share, while The Initiative Plc (TIP) appreciated by 9.74 per cent, closing at N1.69 per share.

Conversely, Abbey Mortgage Bank and Ikeja Hotels led the loser’s table by 9.90 per cent, closing at N2.73 and N7.83 per share, respectively.

Caverton trailed by 9.66 per cent, closing at N1.87, while Daar Communications lost 9.38 per cent, closing at 87k per share.

Also, NPF Microfinance Bank shed 7.91 per cent, closing at N1.98 per share.

However, Transcorp led the activity chart in terms of volume with 74.54 million shares traded at N934.42 million.

It was followed by Sterling Bank, which transacted 54.32 million shares valued at N341.58 million.

Access Holdings also traded 54.11 million shares worth N1.51 billion, while AIICO Insurance sold 53.90 million shares valued at N71.98 million.

United Bank of Africa (UBA) sold 52.27 million shares at N1.6 billion.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions going down by 43.20 per cent.

(NAN)