Equity market rebounds by 0.99%, market capitalisation gains N401bn

The nation’s bourse on Thursday rebounded with unprecedented profit, as the market capitalisation gained N401 billion or 0.99 per cent to close at N40.776 trillion, as against N40.375 trillion recorded on Wednesday.

The All-Share Index (ASI) also grew by 733.94 or 0.99 per cent to settle at 74,502.58 points, as against 72,404.9 recorded previously.
As a result, the Year-to-Date(YTD) return rose to 43.94 per cent.

The improved performance was driven by increase in the sale of stocks of Axa Mansard Insurance, Multiverse and Julius Berger.

Access Holdings led the the traders chart in volume by N23.42 million, while MTN Nigeria led in value by N792.51 billion units.

On the gainers chart, Ikeja Hotel led in percentage terms of 10 per cent to close at N5.50k, followed by Multiverse which closed by 9.96 per cent at N16.89 and Julius Berger which closed by 9.94 per cent at N39.80.

Industrial and Medical Gas(IMG)gained N12.25 at 9.87 per cent, while Inifinity closed at N5.47 by 9.84 per cent.

On the loosers chart, UACN led in percentage terms by 10 per cent to close at N12.15 per share, while Johnholt followed to close by 9.73 per cent at N2.32 and DeepCap closed at 9.38 per cent at 58k per share.

RTBrisco lost 8.96 per cent to close at 61k, while UCAP shed 7.53 per cent to close at N22.10