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Equities market posts rebound, gains N165.09bn

Equities

By Motolani Oseni

The equities market of the Nigerian Exchange (NGX) Limited, yesterday recovered from the previous session’s loss, gaining by 30 per cent while the market capitalisation appreciated by N165.09 billion to close at N55.46 trillion.

Specifically, the Lagos bourse benchmark index closed at 101,362.38 points, due to 4. 93 per cent gains in BUACEMENT, 0.21 per cent UBA, and gain of 9.96 per cent, which outweighed losses of 0.42 per cent in ZENITHBANK, 0.77 per cent in GTCO, and decline of 2.70 per cent in ACCESSCORP, keeping the market in the green.

Consequently, the All Share Index (ASI) year-to-date (YTD) return rose to 35.56 per cent, while analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 1.15 per cent.

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A total of 302.74 million shares valued at N6.55 billion were exchanged in 8,611 deals. FBNH (+9.96%) led both the volume and value chart with 39.38million units traded in deals worth N1.10trn

Market breadth closed negative at a 4.20-to-1 ratio with declining issues outnumbering the advancing ones.

OKOMUOIL (-10.00%) topped forty-one (41) others on the laggard’s table while FBNH (+9.96%) led nine (9) others on the leader’s log.

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