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Equities rebound, gain N36bn

Activities at the Nigerian Exchange Limited (NGX) closed positive, yesterday, reversing prior days of negative sentiments following gains recorded by blue chip stocks. The key market performance measures, the NGX All Share Index and market capitalisation, rose by 0.17 per cent as market sentiments returned to gaining streaks following investors’ renewed optimism on undervalued stocks. The All-Share Index gained 68.01 basis points or 0.17per cent to close at 39,252.19 as against 39,184.18 recorded the previous day while the market capitalisation of equities appreciated by N36 billion or 0.17 per cent to close at N20.451 trillion from N20.415 trillion as market sentiment returned to the green zone. Meanwhile, a turnover of 262.13 million shares exchanged in 3,955 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume); with 81.87 million shares exchanged by investors in 1,233 deals. Volume in the sub-sector was largely driven by activities in shares of Access Bank Plc and Zenith Bank Plc.

The insurance sub-sector, boosted by activities in shares of Mutual Benefits Assurance Plc and Sover-eign Trust Insurance Plc, followed with a turnover of 44.51 million shares in 200 deals. The number of gainers at the close of trading session was 17, while decliners closed at 18. FG112024S1 led the gainers’ table by 8.33 per cent to close at N110.50 per share, while Chams Plc followed with 4.76 per cent to close at 22 kobo per share. Prestige Assurance Plc added 4.35 per cent to close at 48 kobo per share. On the other hand, Unity Bank Plc led the price losers’ table, dropping 8.62 per cent to close at 53 kobo per share. Oando Plc followed with 7.03 per cent to close at N4.10 per share, while UBN Plc trailed with a loss of 6. 54 per cent to close at N5.00 per share.

 

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