Home Business Nigerian equity market rebounds by 0.69%

Nigerian equity market rebounds by 0.69%


Lagos – Activities on the Nigerian Stock Exchange (NSE) on Thursday closed upbeat with the market indicators appreciating by 0.69 per cent reversing the three-day negative trend.

The News Agency of Nigeria (NAN) reports that the All-Share Index grew by 186.66 points or 0.69 per cent to close at 27,284.84 compared with 27,098.18 achieved on Wednesday following price growth.

Also, the market capitalisation, which opened at N9.306 trillion, inched N64 billion or 0.69 per cent to close at N9.370 trillion.

NAN also reports that Nestle led the gainers’ table, growing by N68 to close at N825 per share.

Total came second with a gain of N8.26 to close at N173.63, while Guaranty Trust Bank increased by 20k to close at N18.70 per share.

Berger Paint also improved by 20k growing at N8 to close at N15.19 per share.

On the other hand, Nigerian Breweries for the second consecutive day topped the losers’ chart, dropping N1.41 to close at N128.60 per share.

Cadbury trailed with a loss of 97k to close at N18.51 and RedStar dipped 21k to close at N4 per share.

Cement Company of Northern Nigeria shed 14k to close at N7 and Oando dipped by 10k to close at N7.15 per share.

The Financial Services Sector remained the toast of investors with Guaranty Trust Bank emerging the most traded, exchanging 34.32 million shares worth N641.94 million.

Unity Bank followed with a total of 29.62 million shares valued at N35.43 million, while FCMB Group traded 22.16 million shares worth N35.16 million.

FBN Holdings transacted 19.03 million shares valued at N70.29 million and Zenith Bank sold 11.56 million shares worth N171.02 million.

In all, investors bought and sold 182.68 million shares valued at N1.58 billion achieved in 3,631 deals.

This was against the 261.01 million shares worth N1.22 billion transacted in 3,591 deals on Wednesday. (NAN)

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