Nigeria’s capital market rebounds as ASI appreciates by 0.37%

The Nigerian capital market rebounded from the previous day’s losses with a 0.37 percent growth in the All-Share Index (ASI) at the close of trading on Tuesday.

After five hours of trading today, the ASI rose to 70,876.35 from 70,612.81 posted by the bourse on Monday.

Similarly, the market capitalization increased by N165.1 billion to N38.96 trillion from N38.79 trillion recorded the previous day.

The market turnover, however, dropped from N7.75 billion to N3.37 billion today.

The market breadth closed positive as 35 equities gained while 16 others declined in share prices in 6,533 deals.

Northern Nigeria Flour Mills Plc led other gainers with 10 percent growth to close at N19.80 kobo from the previous N18.00 kobo per share.

Mecure Industries, C&I Leasing, and Meyer PLC completed the list of gainers with 9.98 percent, 9.97 percent, and 9.96 percent increases in share price respectively.

READ ALSO: Nigeria’s capital market ends trading week with 0.05% growth in ASI

Red Star Express Plc led the losers’ chart after it shed 9.76 percent off its share price to close at N2.96 kobo down from the previous N3.28 kobo per share.

FTN Cocoa Processors, Mutual Benefits Assurance, and Caverton Offshore Plc also shed their share prices by 9.29 percent, 5.77 percent, and 4.83 percent respectively.

On volume of traded stocks, Japaul Gold Ventures led in the day with 44.698 million shares valued at N82.766 billion in 400 deals, followed by Fidelity Bank with 36.361million shares worth N326.82 million traded by investors in 245 deals.

United Bank for Africa (UBA) traded 26.704 million shares valued at N555.022 million in 332 deals.

UBA recorded the highest value for the day with N555 million worth of shares traded by investors followed by FIDELITYBK with N326 million and ACCESSCORP with N317 million respectively.

By: Babajide Okeowo

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