Investors gain N94bn as stock market rebounds

The stock market on Tuesday rebounded with N94 billion profit, adding to the portfolios of investors.

Investor interest in Red Star Express, NPF Microfinance Bank, Deap Capital Management, Morison, NCR and 35 other equities pushed the broader index into a positive terrain.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation gained 0.09 per cent or N94 billion to close at N106.436 trillion from N106.342 trillion posted on Monday.

The All-Share Index also increased by 0.09 per cent or 144.33 points to close at 166,256.83 points, against 166,112.50 points recorded on Monday.

The market breadth closed positive with 40 gainers against 25 losers.

Red Star Express, Deap Capital Management and NPF Microfinance Bank led the advancers’ chart by 10 per cent each, closing at N15.95, N5.39 and N4.73 per share respectively.

Also, NCR Nigeria and Morison Industries rose by 9.97 per cent each to finish at N155.50 and N6.84 per share respectively.

Conversely, Aluminium Extrusion Industries led the decliners’ chart by 9.95 per cent, settling at N17.20.

Jaiz Bank trailed by 9.88 per cent, ending the session at N7.21 while FTN Cocoa Processors dipped by 8.44 per cent, closing at N7.05 per share.

UPDC dropped by 8.06 per cent, finishing at N5.70 while Caverton Offshore Support Group shed by 5.59 per cent, closing at N7.60 per share.

A total of 795.5 million shares worth N19 98 billion were exchanged in 45,410 deals, compared with 629.6 million shares valued at N14.7 billion that was traded in 57,858 transactions.

This revealed a 26 per cent increase in volume, 35 per cent growth in value but 22 per cent decline in deals.

Tantalizer recorded the highest volume with 86.96 million shares, accounting for 10.93 per cent of the total volume traded for the day.

Also, GTCO recorded the highest value traded at N3.79 billion, representing 18.98 per cent of total value traded for the day.