Stocks rebound as equities market gain N213bn

The Nigerian equities market, on Tuesday, gained N213 billion, on the first trading day after the public holidays after the market ended last week with All-Share Index (ASI) and equities capitalisation at 66,382.14 points and N36.331trillion.

The ASI and the equities capitalisation, however, rose to 66,770.97 point and N36.544 trillion on Tuesday.

Stocks of BUA Cement, Beta Glass, UACN, FTN Cocoa and Oando were on demand as trading begins in the new month. This positive record also pushed higher this year’s return to +30.28percent.

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Investors, in 7,537 deals, exchanged 364,321,814 shares valued at N3.851billion, with the shares of CHI, Fidelity Bank, Oando, GTCO, and Access Corporation coming out as the most traded stock on the Nigerian Exchange Limited (NGX).

BUA Cement, however, led the gainers after its share price rose from N85.50 to N94, adding N8.50 or 9.94percent, while Beta Glass went up from N60.90 to N66.95, adding N6.05 or 9.93percent. FTN Cocoa was also up from N1.51 to N1.66, adding 15kobo or 9.93percent.

Oando also rose from N7.85 to N8.60, adding 75kobo or 9.55percent, while UACN increased from N10 to N10.85, up by 85kobo or 8.50percent.

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