Stock market rebounds by 0.15 percent

Trading on the Nigerian Stock Exchange (NSE) recorded a rebound as the All-Share Index (ASI) inched up by 0.15 percent.

The ASI added 39.56 to close at 26.385.80 in contrast to a decline of 233.98 on Tuesday. Market capitalization also added N13.6 billion to close at N9.079 trillion in contrast to N80.5 billion lost a day before when it closed at N9.065 trillion,

Investors transacted a total of 197.4 million units of shares, valued at N1.05 billion in 3,410 deals, compared to previous trading session’s 219 million units of shares, valued at N1.4 billion in 3,423 deals.

The day’s improved performance cut across the sub-sector indices most of which closed higher by the end of the day’s trade. The Banking index recorded the highest growth of 0.73 percent, The Main Board added 0.34 percent, the NSE 30 grew 0.22 percent and the NSE Oil and Gas Index increased 0.37 percent. The NSE Consumer goods Index, however, fell 0.28 percent consequent on depreciation in Guinness and Honeywell Flour.

The price movement table showed 19 companies appreciated, while 16 had their equity prices shaved. OkomuOil led the gainers” table by 10.21 percent to close at N44.27, Presco followed with an increase of 10.20 percent to close at N44.19, Air Service grew 4.98 percent to close at N2.74, May and Baker appreciated 4.44 percent to close at 94 kobo, and Eterna gained 4.04 percent to close at N3.35.

Guinness led the decliners, losing 6.38 percent to close at N74.90, Julius Berger dropped 4.98 percent to close at N36.66, UAC-Prop depreciated 4.76 percent to close at N3, Fidson fell 4.72 percent to close at N1.21, while Livestock feeds depreciated 4.71 percent to close at 81 kobo.

Union Bank topped the activity chart for the day, with the sale of 34.1 million shares worth N170.6 million. Diamond Bank followed with 28 million shares worth N27.2 million, while Transcorp emerged the third most traded stock for the day with 22.6 million shares amounting to N20.4 million. FBN Holdings came fourth having traded 19.7 million units of shares valued at N72.3 million while FCMB was fifth with 14.3 million shares worth N18.1 million.