Equities market rebounds, gains N358.05bn


By Motolani Oseni

The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded from previous session losses, as the market capitalization gained N358.05billion to close at N36.90trillion.

At the close of yesterday, the local bourse benchmark Index, also, bounced back, surging by 0.98 per cent to close at 67,414.40 points.

According to the closing statistics by NGX, the positive outing was due to renewed investor interests in Tier-1 bank, ZENITHBANK +0.74 per cent, GTCO +6.00 per cent and ACCESSCORP +9.77 per cent pushed the broader index into positive terrain.

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As a result, the year-to-date (YTD) return rose to 31.54 per cent.
In fact, analysis of yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 21.04 per cent.

A total of 569.63million shares valued at N8.70billion were exchanged in 8,404 deals. OANDO +9.73 per cent led the volume and value charts with 143.45m units traded in deals worth N1.40billion.Market breadth closed positive at a 2.08-to-1 ratio with advancing issues outnumbering declining ones. DANGSUGAR +10.00 per cent led 26 others on the leader’s log while COURTVILLE (-10.00%) topped 12 others on the leader’s table.

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Ihesiulo Grace

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