Investors gain N71.5bn in 8 hours as Nigeria’s stock market rebounds from bearish run

The Nigerian capital market rebounded from two consecutive losses on Wednesday, with the equity capitalisation rising by 0.28 percent to end trading with N25.48 trillion.

Tuesday’s equity capitalisation was N71.53 billion higher than the N25.41 trillion posted by the bourse the previous day.

The All-Share Index was up by 132.74 basis points to close at 47,287.09 compared to 47,154.35 achieved on Tuesday.

Investors traded 336.30 million shares valued at N5.86 billion in 5,248 deals on Wednesday.

This fell short of the 754.93 million shares worth N3.63 billion investors traded in 4,330 deals the previous day.

Presco topped the gainers’ table after netting N10.45kobo to close with N114.95kobo from N104.50kobo per share.

Pharmdeko gained N0.18kobo to rise from N1.82kobo to N2 per share.

Linkage Assurance’s share was up by 9.80 percent to move from N0.51kobo to N0.56kobo per share.

Royal Exchange’s share appreciated by N0.13kobo to move from N1.35kobo to N1.48kobo per share.

RT Briscoe’s share price was up by 8.93 percent to end trading with N0.61kobo from N0.56kobo per share.

READ ALSO: NGX round-up: Investors trade 1.37bn shares worth N23.7bn in 5 days

Ellah Lakes led the losers’ chart, shedding N0.38kobo to drop from N3.83kobo to N3.45kobo per share.

May & Baker’s share depreciated from N5.45kobo to N4.91kobo per share after losing N0.54kobo during trading.

Neimeth’s share dropped by N0.17kobo to end trading at N1.65kobo from N1.82kobo per share.

Niger Insurance lost 8.70 percent to end trading with N0.21kobo from N0.23kobo per share.

Cutix completed the list after shedding N0.18kobo from its market price to drop from N2.48kobo to N2.30kobo per share.

First Bank led the day’s trading with 108.61 million shares valued at N1.24 billion.

GTCO followed with 54.13 million shares valued at N1.42 billion.

United Capital traded 25.29 million shares worth N308.50 million.

Zenith Bank sold 22.29 million shares worth N595.01 million, while Caverton traded 14.94 million valued at N19.04 million.

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