Equities Market Rebound, Gains N153.24bn

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded after Tuesday’s pullback as market capitalization gained N153.24billion to close at N28.18trillion.

Also, the benchmark Index gained 0.55 per cent to close at 51,729.87 points, while the year-to-date (YTD) return rose to 0.93 per cent.

Gains in index heavyweight, BUACEMENT (+3.59%) alongside Tier-1 banking names, ZENITHBANK (+0.21%), GTCO (+1.48%) and FBNH (+0.45%) pushed the broader index into positive territory.

Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 0.55 per cent.

A total of 281.94m shares valued at N8.16billion were exchanged in 3,679 deals. FBNH (+0.45%) led the volume chart with 108.93million units traded while BUACEMENT (+3.59%) led the value chart in deals worth N4.07billion.

Market breadth closed positive at a 2.33-to-1 ratio with advancing issues outnumbering declining ones. CHAMPION (+9.45%) led twenty (20) others on the gainer’s table, while WAPIC (-6.67%) topped eight (8) others on the laggard’s log.