Ikeja Hotel, Eterna lead Nigerian stock market’s rebound as shareholders gain N33.08bn

The Nigerian capital market rebounded from two days consecutive losses following the rise in equity capitalization by 0.13 percent at the close of business on Wednesday.

The development handed the investors a N33.08 billion gain with the equity capitalization rising from N25.24 trillion to N25.27 trillion after eight hours of trading today.

The All-Share Index rose by 61.39 basis points to close at 46,904.48 against 46,843.09 achieved the previous day.

Investors traded 201.28 million shares worth N2.62 billion in 4,017 deals on Wednesday.

This was lower than the 214.32 million shares valued at N1.79 billion which exchanged hands in 4,125 deals on Tuesday.

Ikeja Hotel led the gainers’ table, netting N0.12kobo to close at N1.32kobo from N1.20kobo per share.

Cornerstone gained 10 percent to rise from N0.60kobo per share to N0.66kobo.

READ ALSO: Investors open week with N40bn loss as Beta Glass, PZ fail to lift Nigeria’s stock market

Eterna’s share was up by N0.49kobo to move from N4.99kobo to N5.48kobo per share.

Meyer’s share appreciated by 9.09 percent to move from N0.55kobo to N0.60kobo per share.

Chams gained 5 percent to end trading with N0.21kobo from N0.20kobo per share.

Cadbury led the losers’ chart, shedding N0.60kobo to drop from N9 to N8.40kobo per share.

Japaul Gold’s share dropped by 5.88 percent to end trading at N0.32kobo from N0.34kobo per share.

PZ’s share depreciated from N11.20kobo to N10.60kobo per share after losing N0.60kobo during trading.

Royal Exchange lost 5.22 percent to end trading with N1.09 from N1.15kobo per share.

WAPIC completed the list after losing 4.17 percent from its market price to drop from N0.48kobo to N0.46kobo per share.

Ecobank led the day’s trading with 61.89 million shares valued at N742.03 million.

AccessCorp followed with 29.47 million shares valued at N294.91 million.

Zenith Bank traded 15.83 million shares worth N361.79 million.

Fidelity Bank sold 11.37 million shares worth N35.63 million, while Transcorp traded 9.83 million valued at N9.80 million.

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