Stock market rebounds, up N82bn

Transactions on the Nigerian Exchange Ltd. rebounded on Thursday by N82 billion, changing a two-day bearish trend.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation increased by N82 billion or 0.12 per cent to N66.518 trillion from N66.436 trillion recorded on Wednesday.

The All-Share Index also rose by 0.12 per cent or 130.24 points to close at 106,220.62 against 106,090.38 posted the previous day.

Market breadth closed positive with 36 gainers and 21 losers.

On the gainers’ chart, UPDC Real Estate Investment Trust soared by 9.92 per cent to close at N2.77, while International Breweries gained by 9.62 per cent to close at N5.70 per share.

Also, Royal Exchange increased by 9.59 per cent to close at 80k and Multiverse Mining rose by 8.81 per cent to close at N8.65 per share.

Nigeria Exchange Group gained by 6.14 per cent to close at N32.85 per share.

On the losers’ chart, University Press declined by 10 per cent to close at N4.32 per share, while X Academy lost by 9.66 per cent to close at N2.62 per share.

Red Star Express fell by 9.32 per cent to close at N5.32 and FG152028S1 lost by 9.09 per cent to close at N50.00 per share.

Also, Neimeth International Pharmaceutical declined by 8.33 per cent to close at N2.75 per share.

A total of 341.70 million shares worth N16.655 billion were exchanged across 11,233 transactions.

This is compared to 1.499 billion shares worth N10.259 billion that was exchanged across 11,748 transactions on Wednesday.

Transactions in the shares of Tantalizer topped the activity chart with 29.621 million shares valued N98 million.

Access Corporation followed with 29.165 million shares worth N693.28 million while Zenith Bank traded 28.733 million shares valued at N1.378 billion.

Guaranty Trust Holding Company transacted 26.685 million shares worth N1.625 billion and Universal Insurance sold 20.948 million shares valued at N12.161 million.