Stock market rebounds as gains in 25 stocks lift index by 0.1 per cent
The Nigerian Exchange Limited (NGX) rebounded at the end of transactions yesterday, as many blue-chip stocks recorded price appreciation, causing the All-Share Index (ASI) to appreciate by 0.1 per cent.
Specifically, the market capitalisation of listed equities increased by N35 billion to N25.477 trillion from N25.442 trillion achieved on Wednesday. Also, the ASI appreciated by 64.77 basis points or 0.1 per cent to 47272.04 points from 47207.27 points.
Investors during the day exchanged 340.671 million shares valued at N3.857 billion in 5383 deals against 203.645 million shares worth N3.493 billion that exchanged hands the previous day in 4377 deals.
Vetiva Dealings and Brokerage said: “We expect another mixed sectoral performance to close out the week, with demand in large-cap names sustaining the positive close amid cherry-picking activities across the board.”
On the price movement chart, 25 stocks appreciated at a price while 19 constituted the losers’ chart. Etranzact led the gainers’ chart, adding 10 per cent to close at N2.43 kobo while Learn Africa followed with a gain of 9.92 per cent to close at N2.66 kobo.
Scoa Plc added 9.69 per cent to close at N2.83 kobo. Royal Exchange garnered 9.62 per cent to close at N1.14 kobo. RTBriscoe increased by 8.86 per cent to close at 86 kobo. Niger Insurance added 8.33 per cen to close at 26 kobo.
Cornerstone Insurance also appreciated by 8.33 per cent to close at 65 kobo. Seplat added 7.49 per cent to close at N859.90 kobo. NGX Group added 7.17 per cent to close at N26.15 kobo. Mutual Benefit Assurance also added 3.85 per cent to close at 27 kobo.
On the contrary, Multiverse topped the losers’ chart, shedding 8.00 per cent to close at 23 kobo. Japaul Gold trailed with a loss of 5.00 per cent to close at 38 kobo.
International Breweries fell by 4.55 per cent to close at N5.25 kobo. Chams Plc dipped by 4.35 per cent to close at 22 KOBO. HoneyWell Flour Mills depreciated by 3.87 per cent to close at N3.73 kobo.
Flourmills lost 3.64 per cent to close at N31.80 kobo. Wema Bank dropped 3.09 per cent to close at 94 kobo. UPDC Reit also shed 2.63 per cent to close at N3.70 kobo.
The result further showed that Custodian Investment Plc was the most active stock during the day, exchanging 39.167 million shares valued at N282.066 million.
Sterling Bank followed with an account of 33.353 million shares cost N53.775 million, Fidelity Bank traded 22.398 million shares cost N68.951 million, Access Bank exchanged 20.386 million shares worth N209.681 million, United Capital sold a total of 19.077 million shares worth N264.605 million.