Nigeria stock market rebound marginally by 0.02 per cent

Nigeria stock market rebound marginally by 0.02 per cent – The key market indices of the nation’s bourse on Tuesday rebounded marginally by 0.02 per cent, due to gains posted by 16 stocks.

Specifically, the All-Share Index rose by 3.82 points or 0.02 per cent to close at 25,136.49 compared with 25,132.67 achieved on Monday.

Also, the market capitalisation grew by two billion or 0.02 per cent to close at N13.112 trillion against N13.110 trillion recorded on Monday.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Sugar, Flour Mills, United Bank for Africa (UBA), University Press and Guinness.

Consequently, market breadth closed positive, with 16 gainers compared with 13 losers.

University Press drove the gainers’ chart in percentage terms, gaining 9.91 per cent to close at N1.22 per share.

Cornerstone Insurance came second with a growth of 9.43 per cent to close at 58k, while Lasaco Assurance rose by 7.14 per cent to close at 30k per share.

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United Capital increased by 3.23 per cent to close at N3.20, while Sterling Bank appreciated by 2.61 per cent to close at N1.18 per share.

Conversely, Conoil led the losers’ chart in percentage terms with a loss of 9.76 per cent to close at N15.25 per share.

Ardova and Oando followed with 9.68 per cent each, to close at N12.60 and N2.24 per share, respectively.

Fidson dipped 5.25 per cent to close at N3.79, while Japaul Oil shed 4.76 per cent each to close at 20k per share.

In the same vein, the volume of shares traded grew by 68.08 per cent as investors bought and sold 271.002 million shares worth N2.46 billion in 3,693 deals.

This was in contrast with a total of 161.23 million shares valued at N1.85 billion transacted in 3,597 deals on Monday.

Zenith Bank topped the activity chart, accounting for 35.84 million shares worth N600.20 million.

Guaranty Trust Bank followed with 35.29 million shares valued at N877.02 million, while Lasaco Assurance traded 33.07 million shares worth N9.89 million.

Access Bank accounted for 23.74 million shares valued at N152.05 million, while Transcorp sold 15.51 million shares worth N9.43 million.

(NAN)