Stock market rebounds with N101bn gain

The Nigerian Exchange Ltd. (NGX) rebounded on Tuesday, reversing several days of bearish trends, with a gain of N101 billion.

The NGX market capitalisation rose by N101 billion or 0.15 per cent, closing at N65.589 trillion, up from N65.488 trillion on Monday.

Similarly, the All-Share Index (ASI) increased by 159.88 points or 0.15 per cent, closing at 104,376.75, compared to 104,216.87 in the previous session.

However, the market breadth closed negative, with 43 losers and 16 gainers.

On the losers’ chart, Union Homes Real Estate Investment Trust fell by 9.95 per cent, closing at N46.15. Nigerian Aviation Handling Company dropped 9.94 per cent to N62.95 per share.

NEM Insurance declined by 9.92 per cent, closing at N11.80, while Lasaco Insurance lost 9.86 per cent, closing at N1.92 per share.

Royal Exchange also fell by 9.78 per cent, closing at 83k per share.

On the gainers’ chart, Secure Electronic Technology rose by 8.89 per cent, closing at N0.49. Abbey Mortgage Bank gained 8.35 per cent, closing at N5.58 per share.

Sterling Bank increased by 6.85 per cent, closing at N5.15, while VFD Group grew by 5.26 per cent, closing at N66.00 per share.

Mutual Benefit Assurance also gained 4.55 per cent, closing at 92k.

A total of 460.57 million shares worth N10.105 billion were traded across 14,528 transactions.

This compares to 444.11 million shares valued at N11.148 billion traded across 15,690 transactions earlier.

Access Corporation led the activity chart with 56.49 million shares worth N1.185 billion.

Guaranty Trust Holding Company followed with 51.56 million shares worth N3.430 billion. Fidelity Bank traded 24.067 million shares valued at N431 million.

First City Monument Bank exchanged 23.35 million shares valued at N208 million, while United Capital transacted 23.305 million shares worth N319.86 million.