Equities Rebound As Investors Gain N187bn

The Nigerian equities market, yesterday, recovered from the previous sessions’ losses with a gain of N187 billion on investors’ interest in Zenith Bank Plc and 28 others.

The All-Share Index rose by 331.17 per cent, representing a gain of 0.32 per cent, to close at 104,283.64 points. Similarly, the overall market capitalisation value gained N187 billion to close at N58.963 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Zenith Bank, Guaranty Trust Holding Company (GTCO), Nigerian Exchange Group, United Capital and United Bank for Africa (UBA).

Market breadth closed positive, as 29 stocks gained relative to 20 losers. CWG recorded the highest price gain of 10 per cent to close at N7.15, per share. Juli followed with a gain of 9.97 per cent to close at N9.49, while FTN Cocoa Processors appreciated by 9.94 per cent to close at N1.77, per share.

Consolidated Hallmark Holdings appreciated by 9.72 per cent to close at N1.58, while Livestock Feeds rose by 9.70 per cent to close at N1.81, per share.

On the other hand, Northern Nigeria Flour Mills (NNFM) led the losers’ chart by 9.97 per cent to close at N48.30, per share.

Prestige Assurance followed with a decline of 9.68 per cent to close at 56 kobo, while Omatek Ventures declined by 8.86 per cent to close at 72 kobo, per share.

Veritas Kapital Assurance shed 8.57 per cent to close at 64 kobo, while May & Baker Nigeria lost 8.33 per cent to close at N5.50, per share.

Also, the total volume of trade increased by 33.46 per cent to 499.707 million units, valued at N12.411 billion, and exchanged in 10,260 deals. Transactions in the shares of Access Holdings topped the activity chart with 83.601 million shares valued at N1.974 billion. Zenith Bank followed with 53.203 million shares worth N2.263 billion, while United Bank for Africa (UBA) traded 49.679 million shares valued at N1.362 billion.