Equities market rebounds by 0.85% as investors earn N215bn

The Nigerian equities market gains weight on Thursday to reverse previous day’s loss as the benchmark index appreciates by 0.85 per cent.

Owing to the  positive outing which brought the Month-to-Date and Year-to-Date performance of the All-Share Index to stand at 1.51 per cent and 10.80 per cent respectively, the ASI settled at 47,329.80 basis points at the end of the day’s trading session.

Investors, thus,  earned N215 billion in the session as the market capitalisation followed suit the direction of the ASI to stand at N25.504 trillion, a 0.85 per cent gain from the N25.289 trillion it stood at the end of the previous trading session.

Market breadth also closed in favor of the bulls, as 23 counters in the gainers chart were pitted against 19 counters in the losers chart.

On the performance chart, Oando gained 10.00 per cent to become the best performing stock in the session, followed closely by Academy Press, SCOA, Lasaco Assurance and RTBriscoe.

From the rear of the chart, Pharmadeko shed the most weight to lead the losers’ chart, flanked by Champion Breweries, Ikeja Hotel, Unity Bank and Mutual Benefits.

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Most sectorial indices closed in the same direction with the ASI save for NGX Banking and NGX Consumer Goods that shed 0.51 per cent and 0.18 per cent respectively, while NGX Growth and NGX ASEM closed flat.

However, activity at the Nigerian Exchange Limited (NGX) as measured by both volume and value lost weight on Thursday with daily traded volume standing at 346.703 million units, representing a 20.29 per cent decrease from a volume of 439.946 million units traded in the previous session.

Value of traded stocks dipped by 38.75 per cent in the session to stand at N3.834 billion as against a value of N6.260 billion recorded in the previous trading session.

Fidelity Bank dominated the volume charts as the top traded stock by volume for the trading session, followed by FBN Holdings, Guaranty Trust Holding Company, Transnational Corporation and Oando to complete the list of the five most traded stocks by volume.

With regards to the value of traded stocks, GTCO took the lead of the top five performers as well. It is flanked by NGX Group, Zenith Bank, Nigerian Breweries and FBN Holdings.

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Equities market rebounds by 0.85% as investors earn N215bn

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Equities market rebounds by 0.85% as investors earn N215bn