Investors Gained N128.5bn as Market Rebounds
by Daily Trust
Investors in the equities market of the Nigerian Stock exchange gained N128.5bn as market capitalization grew to N13.4tn at the close of trading yesterday.
The local bourse shook off losses from yesterday’s trading session as renewed buy interest in banking stocks drove the benchmark index 0.2% higher to settle at 36,688.91 points while As a result, the Month-to-Date and Year-to-Date returns improved to -0.89% and -4.68%, respectively.
The Banking (+2.39%) index was top gainer, following interest in ACCESS (+3.09%), ZENITH BANK (+2.60%), FBNH (+1.01%), and GUARANTY (+0.63%) shares.
Demand for NIGERIANS (+7.69%) stock spurred gains in the Insurance (+0.87%) index. The Consumer Goods (-1.03%), Industrial Goods (-0.50%), and Oil & Gas (-0.29%) indices closed in the red, amidst sell pressure in the shares of FLOURMILL (-5.40%), DANGCEM (-0.43%), and OANDO (-4.27%), respectively.
Market breadth turned positive, with 26 gainers and 16 losers, led by PORTPAINT (+9.76%) and NSLTECH (-10.00%) shares, respectively. Total volume of trades rose by 33.40% to 320.45 million units, valued at NGN3.53 billion, an exchanged in 3,293 deals.