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Investors pocket N36bn as Nigeria’s stock market rebounds from trading losses

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The Nigerian capital market rebounded from two days consecutive losses to hand shareholders N36.88 billion at the close of trading on Friday.

This followed the rise in the market capitalization by 0.16 percent N21.88 trillion to N21.92 trillion on Friday.

The All-Share Index was up by 70.67 basis points gain to close at 42,014.50 compared to 41,943.83 posted the previous day.

Investors traded 277.04 million shares valued at N2.38billion in 3,524 deals.

This surpassed 160.87 million shares valued at N1.40billion that exchanged hands in 3,688 deals on Thursday.

Wema Bank topped the gainers’ chart after its share price appreciated by 10 percent to end trading at N0.88kobo from N0.80kobo per share.

Consolidated Hallmark Insurance share price rose by 9.26 percent to move from N0.54kobo to N0.59kobo per share at the end of trading.

Royal Exchange share price was up by 8.33 percent to end trading with N0.52kobo from N0.48kobo per share.

Mutual Benefit gained 8 percent to move from N0.25kobo to N0.27kobo per share.

Japaul Gold share price rose 7.89 percent to move from N0.38kobo to N0.41kobo per share.

READ ALSO: Investors lose N16.50bn as Nigeria’s stock market free fall continues

Unilever came led the losers’ table after shedding N0.90kobo from its share price to drop from N14.25kobo to N13.35kobo per share.

Universal Insurance share price declined from N0.22kobo to N0.21kobo per share after losing 4.55 percent in its share price.

NGX Group lost N0.80kobo to end trading at N17.75kobo from N18.55kobo per share.

NPF Microfinance share price fell from N1.95kobo to N1.88kobo per share after losing 3.59 percent from its share price during trading.

Linkage Assurance completed the list as its share price dropped by 3.51 percent to end trading at N0.55kobo from N0.57kobo per share.

Sterling Bank was the most active stock after trading 83.56 million shares worth N125.51 million.

First Bank shares were traded at a volume of 52.60 million and valued at N575.47 million.

Access Bank was next with 21.51 million shares traded at a cost of N203.48 million.

Lasaco reported 15.63 million shares worth N16.14 million while Stanbic IBTC recorded over 13.61 million traded shares at a value of N530.86 million.

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