New Telegraph

Equities rebound after 10-day consecutive losses

Trading activities at the Nigerian stock market on Tuesday rebounded after a 10-day downward session. The market All-Share Index (ASI) grew by 1.35 per cent to close at 50,626.04 points, the highest since 25 June. Investors’ interests in telco heavyweight, MTNN (+7.45%), NESTLE (+2.99%) and Tier-1 banks, ZENITHBANK (+1.90%), and GTCO (+1.75%) pushed the ASI into positive terrain.

The year-to-date (YTD) return also rose to 18.52 per cent, while the market capitalization gained N364.39bn to close at N27.30 trillion. Tuesday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 25.99 per cent. A total of 129.17 million units of shares worth N2.86 billion were exchanged in 4,706 transactions. FBNH led the volume chart with 14.59 million units valed at N159.5 million in 145 deals. Multiverse followed with 9.47 million unit of shares worth N18 million in 5 deals.

GTCO traded 9.36 million volume of shares valued at N191.02 million in 350 deals, Zenith Bank trailed by with 9.29 million shares worth N196.24 million in 64 deals, while AIICO posted 6.38 million shares valued at N3.76 million in 64 transactions. Market breadth closed positive with advancing issues outnumbering declining ones. HONEYFLOUR (+9.66%) led 18 others on the leader’s log while WAPIC (-9.76%) topped seven others on the laggard’s table.

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