Equities rebound as index appreciates by 0.6 per cent

Following gains recorded by virtually all the blue-chip stocks, the Nigeria Exchange Limited (NGX) rebounded yesterday, as the All-Share Index appreciated by 0.6 per cent

Yesterday, the market capitalisation of listed equities increased by 0.6 per cent to N24.059 trillion from N23.921 trillion reported the previous day.

The NGX All-Share Index also grew by 256.23 basis points to 44655.89 points from 44399.66 points recorded on Monday.

Investors traded 235.233 million shares valued at N1.918 billion in 4151 deals against 214.315 million shares worth N2.688 billion in 4410 deals.

Analysts at Afrinvest said:” We anticipate the mild buying pressure to persist in tomorrow’s trading session.”

On the price movement chart, Skyways Aviation Nigeria led the day’s gainers, adding 10.00 per cent to close at N5.83 kobo. Courtvellle Business Solutions followed with a gain of 8.57 per cent to close at 38 kobo. FTNCocoa added 8.33 per cent to close at 39 kobo. Dangote Sugar Refinery gained 7.35 per cent to close at N18.25 kobo. Berger Paint increased by 5.84 per cent to close at N8.15 kobo.

However, NEM Insurance topped the losers’ chart, declining by 8.33 per cent to close at N3.63 kobo. Sunu Assurance trailed with a loss of 5.88 per cent to close at 32 kobo. Regal Insurance fell by 4.26 per cent to close at 45 kobo. Sovereign Trust Insurance depreciated by 4.00 per cent to close at 24 kobo. Wapic Insurance lost 3.92 per cent to close at 49 kobo

Transnational Corporation of Nigeria was the toast of investors during the day, exchanging 38.105 million shares valued at N40.126 million, GTCO Plc followed the account of 18.730 million shares cost N476.489 million, Jaiz Bank traded 14.987 million shares valued at N9.819 million, Ecobank Transnational Incorporated sold a total of 14.493 million shares worth N126.544. FBNHoldings exchanged 13.419 million shares valued at N161.060 million.