Equities market rebounds, as investors gain N189bn  

The Nigerian equities market, on Tuesday, reversed the previous day’s decline with  significant points appreciation to close in the green.

At the end of the day, the All-Share Index (ASI) gained 547.28 basis points, representing a growth of 2.23 per cent to close at 25,129.27 points. Similarly, the market capitalisation gained N189 billion,  to close at N8.6970 trillion.

The upturn was significantly impacted by value appreciation recorded in some medium and large capitalised stocks, such as Guinness, Dangote Cement, Guaranty Trust Bank, UACN, Zenith Bank, Flour Mills, ETI, Forte Oil,  Unilever  and Total.

Market breadth was strengthened, with 17 gainers and18 losers. Transcorp recorded the highest price gain of 7.14 per cent, to close at 75 kobo per share. Guinness gained 4.97 per cent to close at N64.40, while Dangote Cement appreciated  by 4.92 per cent to close at N156.61 per share.

Paintcom went up by 4.84 per cent to close at 65 kobo, while Dangote Flour appreciated by 4.11 per cent  to close at N3.80 per share.

On the other hand, Africa Prudential led the losers’ chart by five per cent, to close at N2.28 per share. Aiico Insurance shed 4.76 per cent to close at 60 kobo, while DN Meyer declined by 4.60 per cent to close at 63 kobo  per share.

Unity Bank depreciated by 4.29 per cent to close at 67 kobo and Caverton declined by 4.12 per cent to close at 93 kobo per share.

Meanwhile, the total volume traded went up by 68.04 per cent to 215.36 million shares, valued at N2.6 billion, and traded in 3,692 deals. Transactions in the shares of Access Bank topped the activity chart with 43.8 million shares valued at N272.3 million. Zenith Bank followed with 72.7 million shares worth N625.94 million, while UBA traded 18.9 million shares valued at N95.1 million.

FBN Holdings traded 18.2 million shares worth N55.2 million, while United Capital sold 13.4 million shared valued N36.8 million.