Stock Market Rebounds, Gains N47.42bn
The Equities market rebounded in Friday after days of bearish trend as the Nigerian Exchange Limited (NGX) closed the week bullish.
The All-Share Index (ASI) gained 87.95 index points or 0.19 per cent to close at 46,631.46 points from 46,543.51 points recorded on Thursday.
Also, the market capitalization of all listed stocks on the Nigerian Bourse appreciated by 0.19 per cent or N47.42 billion in absolute value to currently stand at
N25.139 trillion up from N25.092 trillion posters the previous trading session.
The rise of the stock Barger was hugely buoyed by the surge in the shares of large and medium scale firms like Ardova Plc, Meyer Plc, Jaiz Bank Plc, First City Monument Bank (FCMB) Plc and RTBriscoe Plc.
The market turnover decreased 36.8 per cent, as 154.12 million shares worth N1.75 billion im 4,515 deals were traded compared to Thursday when investors bought and sold a total of 244.04 million units of shares valued at N2.35 billion in 4,710 deals.
The market breadth closed positive with 28 gainers and sixteen losers as against 21 stocks rising, while 14 equities declined the previous day.
The losers’ table was dominated in percentage terms by Royal Exchange Plc, as the financial service company dipped 9.52 per cent to close at N0. 95 kobo per share .
CWO Plc followed with a 9.26 oee cent loss to close at N0. 98 kobo per share, while Caverton plc fell 7.35 per cent to close at N1. 26 kobo per share.
Similarly, Chams Plc and Multiverse Plc concluded the NGX top fivr losers’ chart losing 4.76 per cent and 4.35 per cent to close at N0. 20 kobo and N0.22 kobo per share respectively.
On the flip side, the gainers’ table was led in percentage parameters by Ardova Plc, as the Oil and Gas firm rose 9.87 per cent to close at N12 .80 kobo per share.
In the same vein, Meyer Plc appreciated by 9.71 per cent to close at N1. 13 kobo, while Jaiz Bank Plc, climbed 7.81 per cent to close at N0. 69 kobo per share.
Also, First City Monument Bank (FCMB) Plc and RTBriscoe Plc jumped 7.17 per cent svd 7.14 per cent to close at N3. 44 kobo abd N0. 60 kobo per share respectively.
Analysis of the NGX market activity chart shows that Fidelity Bank Plc was the most active equity as investors traded a total of 20.22 million shares of the lender valued at N71.93 million,Chile Zenith Bank Plc closed as the most valuable brand on the market, transacting 11.95 million units of shares worth N273.98 million.
Comments are closed.