Nigeria’s stock market rebounds. Jaiz Bank, Japaul among top gainers

The Nigerian Stock Exchange rebounded on Wednesday as the market capitalisation rose slightly to N20.286 trillion at the close of business.

The equity capitalisation at the close of trading on Tuesday was N20.28 trillion.

The All- Share Index also decreased by 0.2 percent to move from 38,766.61 to 38,774.03 on Wednesday.

Investors traded in 356.46 million shares in 6,130 deals valued at N4.19 billion. This was higher than the 224,59 million shares valued at N2.14 billion that exchanged hands in 4,675 deals the previous day.

For the top gainers, Jaiz Bank share price rose by 10 percent to move from N0.6kobo to N0.66kobo per share.

Initiates Plc gained 9.52 percent during trading and increased its share price from N0.42kobo to N0.46kobo per share.

Royal Exchange’s share price rose by 8.33 percent to end trading at N0.39kobo from N0.36kobo per share.

Japaul Gold’s share price rose by 8.16 percent to move from N0.49kobo to N0.53kobo per share at the end of trading.

Consolidated Hallmark Insurance completed the list after gaining 6.90 percent to end trading at N0.31kobo from N0.29kobo per share.

Sterling Bank topped the losers’ chart on Wednesday following a loss of N0.16 kobo to drop from N1.69 kobo to N1.53kobo at the close of trading.

READ ALSO: Nigeria’s stock market in red zone as investors lose N78bn

Pharmdeko’s share price declined from N1.48kobo to N1.34kobo per share following a loss of N0.14kobo during the day’s business.

Prestige’s share price plunged by 8.70 percent to end trading at N0.42kobo from N0.46kobo per share.

Ardova’s share price declined from N15.2kobo to N14.15kobo per share after losing N1.05 in share price.

Livestock’s share price fell by N0.11kobo to end trading at N1.76kobo from N1.87kobo per share.

Zenith Bank was the most active stock as investors traded 55.03 million shares worth N1.15 billion.

Access Bank shares were traded at a volume of 38.38 million and valued at N308.55 million.

Transcorp was next with 31.86 million shares traded at a cost of N24.89 million.

GTBank reported 29.20 million shares worth N819.07 million while Mutual Benefit recorded over 25.44 million traded shares at a value of N10.02 million.

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