Investors pocket N380bn as Nigeria’s capital market rebounds from trading losses

Investors at the Nigerian stock market pocketed N380 billion as the bourse rebounded from three consecutive losses at the close of trading on Wednesday.

This followed the rise in the market capitalization by 2 percent on Wednesday.

Consequently, the market capitalization increased from N20.245 trillion to N20.627 trillion at the close of the day’s business.

The All Share Index was up by 733.3 basis points to settle at 39,592.29 compared to 38,858.99 posted on Tuesday.

Investors traded 474.37 million shares valued at N4billion in 3,547 deals on Wednesday.

This topped the 526.30 million shares valued at N3.04 billion that exchanged hands in 3,535 deals the previous day.

NNFM topped the gainers’ chart after its share price rose by N0.55kobo to move from N8 to N8.55kobo per share.

First Bank’s share value was up by 6.62 percent to end trading at N8.05 from N7.55kobo per share.

Dangote Cement share price gained N16 to move from N245 to N261 per share at the end of trading.

Nestle share price appreciated by N89 to end trading with N1489 from N1400 per share.

READ ALSO: Investors lose N3bn as Nigeria’s stock market bearish trading persists

Courtville share price rose by 6.06 percent to move from N0.33kobo to N0.35kobo per share.

Mansard led the losers’ chart after shedding 10 percent from its share price to drop from N2.70kobo to N2.43kobo per share.

Julius Berger share price declined from N27 to N24.30kobo per share after losing 8.59 percent in its share price.

Vanleer share price lost N0.60kobo to end trading at N5.45kobo from N6.05 per share.

Sovereign Insurance share price declined from N0.24kobo to N0.22kobo per share after losing 8.33 percent from its share price during trading.

Consolidated Hallmark Insurance completed the list as its share price fell by 7.02 percent to end trading at N0.53kobo from N0.57kobo per share.

First Bank was the most active stock as investors traded 264.68 million shares worth N billion.

Universal Insurance shares were traded at a volume of 76.66 million and valued at N15.33 million.

Mansard was next with 13.07 million shares traded at a cost of N31.83 million.

Zenith Bank reported 12.11 million shares worth N283.26 million, while Fidelity Bank recorded over 11.22 million traded shares at a value of N27.50 million.

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