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Stock market rebounds by N87bn, index up 0.33%

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The Nigerian Exchange Ltd. (NGX) was upbeat on Monday as market capitalisation increased by N87 billion or 0.33 per cent to close at N26.532 trillion from N26.445 trillion recorded on Friday.

Also, the All-Share Index (ASI) increased by 162.70 basis points, representing a rise of 0.33 per cent to close at 49,189.32 from 49, 026.62 posted on Friday.

Renewed investors’ interest in BUA Cement, Guaranty Trust Holding Company (GTCO) and Zenith Bank were the primary drivers of the overall strong performance of the market.

Consequently, the year-to-date (YTD) return rose to 15.22 per cent.

The market breath closed negative as as 12 stocks advanced and 17 stocks declined.

Multiverse Mining & Exploration led the gainers’ table during the day, gaining by 10 per cent to close at N3.10 per share.

FCMB followed with a gain of 8.02 per cent to close at N3.50, while Union Bank of Nigeria (UBN) inched up by 7.83 per cent to close at N6.20 per share.

Japaul Gold &Ventures grew by 7.41 per cent to close at 29k per share.

NGX Group appreciated by 5.88 per cent to close at N18 per share.

On the other hand, Academy Press topped the losers’ chart, depreciating by 10 per cent to close at N1.53 per share.

NEM Insurance trailed with a loss of 8.91 per cent to close at N4.91, while Neimeth declined by 8.33 per cent to close at N1.43 per share.

Champion Breweries was down by 7.86 per cent to close at N3.40, while Chams lost by 7.41 per cent to close at 25k per share.

Transactions in the shares of Courteville Business Solutions topped the activity chart with 24.36 million shares valued at N10.96 million.

FCMB followed with 20 million shares worth N69.43 million, while Zenith Bank traded 8.87 million shares valued at N177.14 million.

Transcorp traded 5.92 million shares valued at N6.15 million, while United Bank for Africa(UBA) transacted 5.88 million shares worth N42.64 million.

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Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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