Stock market rebound as investors gain N69bn

The Nigerian stock market recovered from the previous day's decline, with investors' profit increasing by N69 billion.

The All Share Index increased by 127.29 absolute points, or 0.23 percent, to close at 54,427.05 points.

As a result, investors gained N69 billion in value as the market capitalization increased to N29.645 trillion.

Gains in medium and large-cap stocks such as Dangote Cement, Zenith Bank, Africa Prudential, International Energy Insurance, and Fidelity Bank influenced the increase.

However, market breadth ended negative, with 11 stocks rising and 23 falling.

Tripple Gee & Company had the highest price increase of 9.52 percent, closing at N1.15 per share.

International Energy Insurance gained 9.40% to close at N1.28, while Japaul Gold & Ventures gained 3.45 percent to close at N0.30 kobo per share.

AXA Mansard Insurance increased by 2.50 percent to N2.05, while Africa Prudential increased by 2.46 percent to N6.25 per share.

Trans-Nationwide Express, on the other hand, led the losers' chart by 9.76%, closing at 74 kobo per share. Transnational Corporation of Nigeria dropped 7.35 percent to close at N1.26, while Courteville Business Solutions fell N6.00 to close at 47 kobo per share.

Prestige Assurance fell 4.76 percent to N40 per share, while UPDC Real Estate Investment Trust fell 4.41 percent to N3.25.

The total volume traded fell by 24.22 percent to 151.583 million shares worth N1.811 billion, traded in 2,974 transactions. Transactions in Universal Insurance shares topped the activity chart, with 20.036 million shares valued at N4.007 million.

Transcorp came in second with 18.685 million shares worth N24.620 million, while Guaranty Trust Holding Company traded 17.029 million shares worth N427.738 million.

Sterling Bank traded 15.625 million shares worth N23.903 million, while United Bank for Africa traded 7.739 million shares worth N64.689 billion.

Leave A Comment


Subscribe to our newsletter to stay.

Sponsor Ad