Equity Market Rebounds With N9bn Gain
The nation’s bourse rebounded on Monday with market capitalisation gaining N9 billion or 0.02 per cent, closing at N39.621 trillion as against N39.612 trillion recorded on Friday.
Also, the All-Share index (ASI) gained 15.68 points or 0.02 per cent to settle at 72, 389.23 as against 72,404.91 recorded on Friday.
The positive performance was driven by stocks of United Bank for Africa (UBA), WAPCO and Fidelity Bank.
As a result, the year-to-date (YTD) return rose to 41.27 per cent.
The market breath closed negative with 18 stocks on gainer’s table and 31 on laggard’s.
The gainers table was led by Infinity Trust Mortgage Bank in percentage terms of 9.93 per cent to close at N3.10 per share, while Johnholt followed with a gain of 9.87 per cent to close at N2.45 per share.
Transcorp Hotel also increased by 9.38 per cent to close at N51.30 per share, SCOA Nigeria Plc gained 8.62 per cent to close at N1.89, while FTN Cocoa Processor Plc grew by 7.53 per cent to close at N1.57 per share.
On the loosers table, ABC Transport led in percentage terms by 9.98 per cent to close at 82k per share, while E-Tranzact closed by 9.42 per cent at N6.25, while RTbriscoe closed 8.33 per cent at 55k per share.
Sovereign Trust Insurance lost 7.69 per cent to close at 36k, while The Initiative Plc shed 6.84 per cent to close at N1.09
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 33.03 per cent. Naira Devaluation Deepens Economic Crisis in Nigeria
A total of 324.25 million shares valued at N4.4 billion were exchanged in 6,745 deals.
