Stock market rebounds, capitalisation increases by N180bn

>The market capitalisation of the Nigerian Exchange (NGX) closed trading on Tuesday with a gain of N180 billion to close at N27.544 trillion against N27.364 trillion posted on Wednesday, halting five days of consecutive losses.

Similarly, the All-Share Index (ASI) increased by 335.01 points or 0.66 per cent to close at 51,091.75 against 50, 756.74 recorded on Wednesday.

Consequently, the Year To Date (YTD) rose to 29.61 per cent.

The uptrend was impacted by gains recorded in large capitalised stocks, amongst which are: Dangote Cement, NAHCO, Oando and Union Bank of Nigeria (UBN).

The market breadth was negative as 14 stocks advanced and 22 stocks declined.

Transcorp dominated the gainers’ table in percentage terms, gaining of 10 per cent, to close at N1.32, per share.

MRS followed with 9.80per cent to close at N16.25, while Dangote Cement rose by 8.30 per cent to close at N270, per share.

NAHCO garnered 7.69 per cent to close at N8.40, while Royal Exchange Assurance appreciated by 5.56 per cent to close at 95k per share.

On the other hand, LearnAfrica and Bua Foods led the losers’ chart in percentage terms, dropping 10 per cent each, to close at N2.25, and N49.50, per share respectively.

Japaul Gold followed with a decline of 9.68 per cent to close at 28k, while Glaxosmith lost 9.22 per cent to close at 6.40, per share.

NASCO lost 8.56 per cent to close at N11.75, per share.

However, the total volume traded rose by 14 per cent as investors bought and sold 166.97 million shares, worth N3.41 billion traded in 4,398 deals.

This was against a turnover of 345 million shares valued at N3.07 billion traded in 5,075 deals on Monday.

Transactions in the shares of Transcorp topped the activity chart with 19.34 million shares worth N24.39 billion.

United Bank for Africa (UBA) followed with 15.59 million shares valued at N131.21 million, while Guaranty Trust Holding Company (GTCO) traded 17.29 million shares worth N365.18 million.

Zenith Bank sold 12.81 million shares valued at N281.89 million, while First Bank of Nigeria Holdings (FBNH) transacted 11.34 million shares worth N95.43 million.