Nigerian Stocks Market Post Rebound, Gains N145.51bn
NGX
The equities market of the Nigerian Exchange Limited, Tuesday rebounded from the previous session’s loss, as the market capitalization appreciated by N145.51billion to close at N38.94trillion, as against N38.80trillion posted at the close first trading day of the week.
Specifically, the domestic bourse benchmark index rose by 0.33 per cent to close at 70,840.72 points, compared to 70,608.02 points recorded on Monday.
Renewed demand for index heavyweight, BUACEMENT (+3.34%) alongside ZENITHBANK (+2.69%), and GTCO (+0.83%) contributed to outweigh losses in ACCESSCORP (-0.58%), TRANSCORP (-1.44%), and FIDELITYBK (-1.64%), keeping the market in the green.
Consequently, the year-to-date (YTD) return rose to 38.22 per cent, as analysis market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 56.54 per cent.
A total of 327.43m shares valued at N3.37billion were exchanged in 6,533 deals. JAPAULGOLD (+2.78%) led the volume chart with 44.70million units traded, while UBA (+0.48%) led the value chart in deals worth N555.02million.
Market breadth closed positive at a 1.91-to-1 ratio with advancing issues outnumbering declining ones. MULTIVERSE (+9.31%), topped 20 others on the leader’s table, while FTNCOCOA (-9.29%) led ten 10 others on the laggard’s table.
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