Investors Gain N213bn as Equity Market Rebounds
After seven consecutive days of bearish trading, the Nigerian Exchange Limited delivered a positive turnaround, resulting in a gain of N213 billion for investors.
Both the All-Share Index and Market Capitalization advanced by 0.59 percent, reaching 66,770.97 basis points and N36.544 trillion, respectively. Additionally, year-to-date returns climbed to 30.28 percent.
On Tuesday, the number of deals and the volume of shares traded surged by 17.59 percent and 24.37 percent, respectively, to 7,537 deals and 364.32 million shares. However, the total trade value declined by 15.02 percent, amounting to N3.85 billion.
At the close of the trading session, market sentiment revealed 24 gainers in contrast to 28 losers.
BUA Cement led the gainers with a significant share price increase of 9.94 percent, closing at N94 per share. It's worth noting that the cement manufacturer recently announced a price reduction for its product, bringing it down to N3,500 per bag.
Betaglas and FTN Cocoa followed closely with a 9.93 percent surge, closing at N66.95 and N1.66 per unit, respectively. Oando also made gains, rising by 9.55 percent to close at N8.60, while UAC Nigeria saw its shares increase by 8.50 percent, closing at N10.85 per unit.
On the other hand, Linkage Assurance led the losers with a 10 percent decline, closing at N0.72. Computer Warehouse Group experienced a 9.94 percent drop in its share value, closing at N7.79. Red Star Express recorded a 9.86 percent loss, ending the trading session at N2.65 per unit. Tantalizer's shares also decreased by 9.38 percent, closing at N0.29, and Cadbury's shares depreciated by 6.83 percent, closing at N15.
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