Stocks Market Rebounds With N5.9bn Gain
Samuel mobolaji
The equities market of the Nigerian Exchange Limited (NGX) on Thursday rebounded with market capitalisation gain of N5.94billion to close at N28.66trillion, as against N28.658 trillion recorded at the previous trading session.
Although, activities in the local bourse was mixed, however, ended with a bullish tilt as the benchmark index closed marginally higher (+0.02%) at 52,626.42 points.
Gains in WAPCO (+1.02%), ACCESSCORP (+0.56%) and ETI (+1.30%) offset the declines in ZENITHBANK (-0.20%), GTCO (-0.41%) and UBA (-1.23%).
Subsequently, the market remains on track for a weekly gain, as the year-to-date (YTD) return rose to 2.68 per cent.
Analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session with the value of transactions down by 59.32 per cent.
A total of 129.04million units of shares valued at N1.82billion were exchanged in 3,183 deals. ZENITHBANK (-0.20%) led the volume and value charts with 18.55million units traded in deals worth N455.74million.
Market breadth closed positive at a 1.82-to-1 ratio with advancing issues outnumbering declining ones. LINKASSURE (+8.33%) led nineteen (19) others on the gainer’s table while CHAMS (-7.14%) topped ten (10) others on the laggard’s log.
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