Investors pocket N16.89bn as Nigeria’s stock market rebounds from consecutive losses

The Nigerian capital market rebounded from two consecutive losses following the rise in equity capitalization by 0.07 percent on Friday.

The equity capitalization rose by N16.8 billion to close at N22.06 trillion compared to N22.04 posted on Thursday.

The All-Share Index was up by 32.37 basis points to rise from 42,230.48 to 42,262.85 on Friday.

Investors traded 111.84 million shares valued at N911.91 million in 2,072 deals on Friday.

This was lower than the 211.08 million shares worth N2.46 billion that exchanged hands in 2,815 deals the previous day.

Meanwhile, UBN led the gainers’ chart after its share price rose by N0.50kobo to move from N5.05 to N5.55kobo per share at the end of trading.

Consolidated Hallmark Insurance share price increased by 9.38 percent to end trading at N0.70kobo from N0.64kobo per share.

Sovereign Insurance share price was up by 8.33 percent to move from N0.24kobo to N0.26kobo per share.

PZ gained N0.45kobo to move from N6.25kobo to N6.70kobo per share.

Vitafoam’s share price was up N0.95kobo to end trading at N22.50kobo from N21.55kobo per share.

READ ALSO: Investors lose N75.3bn in eight hours as Nigeria’s stock market slumps by 0.34%

On the losers’ table, Cornerstone led the way with its share price declining from N0.51kobo to N0.46kobo per share after shedding 9.80 percent in its share price.

UPDC’s share depreciated from N1.18kobo to N1.14kobo per share after losing 3.39 percent in its share price during trading.

Jaiz Bank’s share price dropped by 3.13 percent to end trading at N0.62kobo from N0.64kobo per share.

Japaul Gold lost 2.63 percent in share price to end trading at N0.37kobo from N0.38kobo per share.

UPDC REIT completed the list after shedding N0.10kobo from its share price to drop from N4.10kobo to N4 per share.

Transcorp topped the day’s trading with 11.54 million shares worth N11.43 million.

UBN traded 9.89 million valued at N54.66 million.

Access Bank followed with 9.87 million shares valued at N88.24 million.

Sovereign Insurance sold 9 million shares worth N2.34 million while Sterling Bank traded 7.13 million valued at N10.40 million.

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