Equities Market Rebounds, Up N69.33bn
Samuel Mobolaji
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded with N69.33billion gain to close at N29.64trillion, compared to N29.58trillion recorded at the previous trading session.
At the close of yesterday’s trading activities, the benchmark index, NGX All-Share Index (ASI) appreciated by 0.23per cent to close at 54,427.05 points, as against 54,299.76 points declared on Tuesday.
Gains in industrial heavyweight, DANGCEM (+1.89%) alongside ZENITHBANK (+0.80%) pushed the broader index into positive territory at the Lagos bourse.
Consequently, the year-to-date (YTD) return rose to 6.20 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 76.25 per cent.
A total of 151.58m shares valued at N1.81billion were exchanged in 2,974 deals. TRANSCORP (-7.35%) led the volume chart with 18.68m units traded while GTCO (-0.40%) led the value chart in deals worth N427.74 billion.
Market breadth closed negative at a 2.38-to-1 ratio, with declining issues outnumbering advancing ones. TRANSCORP (-7.35%) topped eighteen (18) others on the laggard’s log, while JAPAULGOLD (+3.45%) led seven (7) others on the leader’s table.
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