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Nigeria’s stock market rebounds as Zenith Bank leads active trade

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The Nigerian Stock Exchange rebounded from last week’s bearish situation with the equity capitalisation hitting N20.61 trillion on Monday.

The equity capitalisation was higher than the N20.57 trillion reported at the close of trading last Friday.

The All Share Index also increased to 39,396.57 from 39,331.61 ASI recorded on Friday.

However, the volume of shares traded declined from 587.74 million to 297.26 million on Monday.

On the number of deals, 4,655 deals were sealed on Monday and this was below the 4,895 deals completed by investors on Friday.

The value of the shares on Monday was put at N3.15 billion, lower than the N13.61 billion for Friday.

For the top gainers, Linkage Assurance share price rose by 10 percent to move from N0.5kobo N0.55kobo per share.

Ardova share price increased by N1.35kobo to move from N13.5kobo to N14.85kobo.

Champion Breweries joined the list after gaining N0.16kobo during trading and increased its share price from N1.68kobo to N1.84kobo.

Oando’s share price rose by N0.25kobo to end trading at N2.90kobo from N2.65kobo.

READ ALSO: Investors lose N17.2bn, Morison tops gainers’ chart in Nigeria’s stock market

Morison gained 9.09 percent in share price to move from N0.66kobo to N0.72kobo per share at the end of trading.

Meyer topped the losers’ chart with a share price of N0.45kobo after losing 10 percent at Monday’s trading. It started trade with N0.5kobo.

Livestock’s share price declined from N2.23kobo to N2.01 following a loss of 9.87 percent in its share price.

SCOA Nigeria’s share price plunged by N0.26 kobo to end trading at N2.38kobo per share from N2.64kobo.

Ikeja Hotel’s share price declined from N1.16kobo to N1.05 per share after losing N0.11kobo in share price during trading.

NEM completed the list as its share price fell by N0.13kobo to end trading at N1.76kobo per share, having opened trade with N1.89kobo.

For traded shares, Zenith Bank was the most active stock on Monday as investors traded 66.49 million shares worth N1.66 billion.

First Bank shares were traded at a volume of 23.47 million and valued at N169.45 million.

Mansard was next with 21.36 million shares traded at a cost of N20.91 million.

Guinea Insurance reported 20.18 million shares worth N4.03 million, while United Capital recorded over 13.59 million traded shares at a value of N64.13 million.

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