Nigerian stock market rebounds with N19 billion gain

The Nigerian Exchange Ltd. (NGX) rebounded on Tuesday, breaking a two-day bearish run with a market gain of N19 billion.

The NGX market capitalisation rose by N19 billion or 0.03 per cent, ending at N65.704 trillion, up from N65.685 trillion on Monday.

Similarly, the All-Share Index (ASI) added 30.40 points or 0.03 per cent to close at 104,560.02, compared to 104,529.62 previously.

However, market breadth closed negative, recording 29 decliners against 25 advancers.

Northern Nigeria Flour Mills topped the losers chart, shedding 9.97 per cent to close at N79.00 per share.

The Initiates Plc fell by 9.57 per cent, ending the day at N4.25 per share.

Caverton Offshore declined by 9.06 per cent, to close trading at N2.31 per share.

WAPIC Insurance dropped by 8.85 per cent, finishing at N2.06 per share.

Guinea Insurance also lost 8.70 per cent, closing at 63k per share.

On the gainers’ chart, ABBEY Mortgage Bank rose by 9.94 per cent to close at N7.41 per share.

Unilever Nigeria gained 9.65 per cent, with its share price closing at N38.05.

Learn Africa appreciated by 8.33 per cent to settle at N3.25 per share.

FG132026S1 increased by 8.00 per cent, closing at N97.20 per share.

Secure Electronic Technology advanced by 7.41 per cent, ending at 58k per share.

In total, 368.76 million shares worth N10.87 billion were exchanged in 13,228 transactions.

This compares to 428.16 million shares worth N10.518 billion traded across 14,583 deals previously.

Fidelity Bank led the activity chart with 47.431 million shares valued at N866.95 million.

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Access Corporation followed with 28.048 million shares worth N592.21 million traded.

Zenith Bank exchanged 23.120 million shares worth N1.146 billion during the session.

UBA transacted 21.97 million shares valued at N690.49 million.

First City Monument Bank recorded 20.805 million shares traded, worth N185.11 million.

(NAN)