Nigeria’s equities market rebounds as investors gain N165bn

The Nigerian equities market rebounded from two consecutive losses on Wednesday as investors made N165 billion at the end of the day’s trading.

This followed the rise in the market capitalization to N55.4 trillion from N55.2 trillion posted by the bourse on Tuesday.

Similarly, the All-Share Index (ASI) increased to 101,362.38 from 101,060.67 recorded the previous day.

The market breadth however closed negative as 11 stocks advanced, 43 declined, while 68 others remained unchanged in 8,611 deals.

First Bank of Nigeria Holding (FBNH) led other gainers with 9.946% growth to close at N28.70 from the previous N26.10 per share.

Juli, Mutual Benefit Assurances, and Regency Alliance Insurance also posted 9.90%, 9.38%, and 7.32% growth in share prices.

READ ALSO: NGX All-Share Index sheds 1,016.42 basis points as market loses N553.70bn

Okomu Oil Palm led other price decliners as it shed 10% off its share price to close at N243.00 from the previous N270.00 per share.

Morison, Sterling Bank Financial Holding, and Japaul Gold with 9.69%, 9.58%, and 9.34 cut in share prices completed the list of losers in today’s trading.

On the volume index, First Bank of Nigeria Holding (FBNH) traded 39.378 million shares valued at N1.1 billion in 339 deals followed by Japaul Gold with 30.196 million shares worth N71.01 million in 244 deals.

Transcorp traded 27.362 million shares worth N353.09 million in 393 deals.

FBNH traded equities valued at N1.103 billion in 339 deals followed by Seplat with stocks worth N763 million in 40 deals.

GTCO traded equities worth N667 million in 333 deals.

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