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Investors grab N441bn as the stock market rebounds

Nigeria’s equity market posted a strong rebound on Wednesday as investors gained N441bn at the close of the day’s trading session.

The All-Share Index went up 1.33 per cent to 61,523.57 points by close of trading, a significant improvement to the previous day’s record of 60,715.04 points.

In a sharp contrast to the previous day’s trading, the market value of shares increased by N441bn (1.33 per cent) to N33.5tn. This was a significant upward movement from the previous session’s N33.06tn.

Shares worth N10.31bn were exchanged, against the N12.21bn in the previous session. The number of deals decreased from the 12,194 recorded on Tuesday to 9,815 deals.

LEARNAFRICA, GOLDBREW, and CHELLARAM, led the best performing stocks with gains of 9.97 per cent, 9.95 per cent, and 9.77 per cent respectively.

NSLTECH, MBENEFIT, and LASACO, led the losers. All three stocks depreciated by 10 per cent respectively.

By volume, 846.3 million shares were traded, which was lower than Tuesday’s volume of 1.11 billion. This showed a decrease in the level of trading activity.

The top three traded stocks were FBNH, TRANSCORP, and ACCESSCORP, with trading volumes of 89.24 million, 89.23 million, and 85.91 million units respectively.

By value,  the top three traded stocks were FBNH with N1.65bn, ACCESSCORP with N1.54bn, and UBA with N749.77m.

Bellwether stocks of DANGOTE CEMENT, AIRTEL AFRICA, and BUA FOODS maintained their prices in the market.



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