Stock market rebounds as investors gain N130.3bn

THE Nigerian Stock Exchanged (NSE) rebounded on Tuesday after investors lost N116 billion in the previous day’s trading session.

A look at the major market indicators indicated that the All-Share Index (ASI) gained 378.04 points to close at 36,962.48 points, while the market capitalisation added N130.3 billion to finish at N12.7 trillion, leaving the Year-to-Date gain to 37.54 per cent.

Nestle chalked up N20.19 kobo to close at N1220.20 kobo per share, while Total Plc appreciated by N11.40 kobo to finish at N239.51 kobo per share.

Dangote Cement expanded by N9.28 kobo to settle at N224.90 kobo per share, Forte Oil moved up by 50 kobo to end at N50.50 kobo per share, and NASCON consumed 48k to close at N13.50 kobo per share.

Like the previous day, the market breadth closed positive with 22 gainers against 21 losers led by Mobil, which depreciated by N11.25 kobo to settle at N213.81 kobo per share.

It was closely followed by Conoil, which lost N3.30 kobo to end at N30.59 kobo per share, and Flour Mills of Nigeria, which depreciated by N1.15 kobo to finish at N29.85 kobo per share.

Furthermore, Zenith Bank shed 95 kobo to close at N23.5 kobo per share, while UACN went down by 80 kobo to wrap the day at N15.70 kobo per share.

However, the volume and value of shares exchanged at the market on Tuesday closed lower than on Monday.

A total of 244.3 million shares worth N3.7 billion were traded today in 3,829 deals compared with 368.4 million units valued at N6.3 billion executed yesterday in 3,729 deals.

A breakdown of the day’s trade showed Livestock emerging the most traded equity, accounting for 101.2 million units sold for N101.12 million.

It was followed by Guaranty Trust Bank, which traded 16.5 million shares worth N670.5 million, and United Bank for Africa, which transacted 15 million units valued at N141.3 million.

In addition, Sterling Bank exchanged 13.5 million shares worth N13.5 million, while Dangote Sugar traded 8.5 million shares at N110.9 million.

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