Investors make N401bn as Nigeria’s equities market rebounds from trading losses

The Nigerian equities market rebounded from the previous day’s trading losses with a 0.99% growth in the All-Share Index (ASI) on Thursday.

After five hours of trading, the ASI rose by 733.9 basis points to close at 74,502.58 from 73,768.64 posted by the bourse the previous day.

Similarly, the market capitalization increased by N401 billion to N40.769 trillion from N40.367 trillion recorded on Wednesday.

The market breadth was positive as 34 stocks advanced and 27 declined, while 56 others remained unchanged in 8,336 deals.

Ikeja Hotel led the gainers’ chart with 10% growth in share price to close at N5.50 from the previous N5.00 per share.

Multiverse Mining and Exploration, Julius Berger Nigeria, and Industrial and Medical Gas Nigeria completed the gainers’ list with 9.96%, 9.94 and 9.87% growth in their share prices.

READ ALSO: NGX: Investors lose N139bn in post-Xmas trading

UAC Nigeria led other price decliners as it shed 10% off its share price to close at N12.15 from the previous N13.50 per share.

John Holt, Deap Capital, and R.T. Briscoe with 9.73%, 9.37%, and 8.96% dip in share prices are other major losers in today’s trading.

On the volume index, Jaiz Bank traded 49.401 million shares valued at N83.1 million in 282 deals followed by Zenith Bank with 27.936 million shares worth N1.055 billion traded by shareholders in 577 deals.

Access Bank Holding traded 23.423 million shares valued at N539.2 million in 383 deals to complete the top three in this category.

On the value index, Zenith Bank raked in N1.055 billion in 577 deals followed by MTN Nigeria with N792 million worth of stocks in 277 deals.

Access Corp traded N539 million in 383 deals.

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