Equities market rebounds, gains marginally by N9.47bn

By Temitope Adebayo

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded from the previous trading session’s decline, as market capitalisation appreciated by N9.47billion.

At the close of yesterday’s trading activities, the rebound in DANGCEM (+0.59%), as well as Tier-1 banking names ZENITHBANK (+0.25%), GTCO (+0.29%) and UBA (+1.43%), were the main drivers of the market’s overall performance.

Specifically, the local bourse was mixed, albeit with a bullish tilt as the benchmark index closed 0.04 per cent higher to settle at 43,477.48 points.

Consequently, the year-to-date (YTD) return rose to 1.78 per cent, while the market capitalisation rose by N9.47billion to close at N23.69trillion.

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Analysis of the Wednesday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 27.62 per cent, DailyTimesNGR gathered.

A total of 133.41million shares valued at N1.81billion were exchanged in 3,078 deals. FBNH (+0.00%) led the volume chart with 30.38m units traded while DANGCEM (+0.59%) led the value chart in deals worth N318.11million.

Market breadth closed positive at a 1.10-to-1 ratio with advancing issues outnumbering declining ones. UNITYBNK (+9.09%) topped ten (10) others on the gainer’s table, while HONYFLOUR (-9.09%) led nine (9) others on the laggard’s log.