Stock Market Rallies, Gains N48.26bn
The Nigerian Stock market has rebounded after days of bearish trend, closing positive on Monday.
The All-Share Index (ASI) jumped by 0.19 per cent, representing 89.52 index points to close at 46,777.37 points up from 46,687.85 points the previous day.
Also, the market capitalization of Allister equities on the Nigerian Exchange Limited NGX rose N48.261 billion or 0.19 per cent to currently stand at N25.218, trillion from N25.169 trillion.
The rise of key market indices was impacted by surge in the equities ofMeyer Plc, Coronation Insurance Plc, FTNCocoa Plc, Cutix Plc and Caverton Plc.
The market turnover rose 17.3 per cent as investors traded a total of 257.41 million units of shares worth N2.34 billion in 4,410, compared to 219.49 million units of shares valued at N1.93 billion in 5,168 deals traded on the NGX on Monday.
The market breadth closed trading negative with 20 decliners and 18 advancing stocks as against 19 laggard equities and 25 gainers the previous day.
The losers’ table was led in percentage parameters by NPF Micro Finance Bank Plc, as the financial service company lost 9.64 per cent to close at N2. 25 kobo per share.
Also, Learn Africa Plc fell 9.14 per cent to close at N1.69 kobo per share, while Multiverse Plc dipped 8.70 per cent to close at N0. 21 kobo per share.
In the same vein, RTBriscoe Plc and Nascon Plc declined 6.67 per cent and 5.43 per cent to close at N0. 56 kobo and N12.20 kobo per share respectively.
Conversely, the gainers table was dominated in percentage terms by Meyer Plc, gaining 8.86 per cent to close at N0.86 kobo per share.
Similarly, Coronation Insurance Plc and FTNCocoa Plc rose 7.14 per cent and 6.45 per cent to close at N0. 30 kobo and N0. 33 kobo per share respectively.
Also, Cutix Plc appreciated by 5.85 per cent to close at N2 .17 per share, while Caverton Plc jumped 5.56 per cent to close at N1 .33 kobo per share.
Analysis of the NGX market activity chart reveals that Fidelity Bank Plc was the most active equity trading a total of 67.43 million units of shares valued at N230.58 million while Guaranty Trust Holdings Company (GTCO) Plc was the most valuable stock at N15. 27 million worth at N341.23 million.
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