NSE: Equities market rebounds, gains N133bn mid-week

Following two consecutive trading days losses, the equities segment of the Nigerian Stock Exchange (NSE) rebounded on Wednesday from the negative experience to gain N133 billion.

The gain of the day doused the loss recorded in the preceding two sessions when the market shed N100 billion and N81 billion on Monday and Tuesday respectively.

Specifically, the All-Share Index (ASI) inched up by 1.0 per cent as it added gain 274.57 points to close at 27,681.61 bps, thereby, softening Year-to-Date (YtD) returns of the market to -11.93 per cent.

Also, the market capitalisation of the 167 equities on the nation’s bourse soared by the same percentage to close at N13.475 trillion as against N13.342 trillion that it opened the day.

Market turnover also followed suit to close positive as volume moved up by +91.64 per cent as against -26.99 per cent downtick recorded in the previous session.

With 24 gainers emerging against 13 losers topped by Champion plc and 17 others that closed with unchanged prices, market breadth also closed on the green territory. This is improved performance when compared with the previous outlook.

Stanbic topped gainers’ chart with N2.45 to close at N39.95 per share and GUARANTY followed with N1.30 to close at N29.80. In the same vein, MTN Nigeria, ETI and WAPCO Plc gained N1, N0.80 and N0.60 to close at N140, N8.80 and N15.30 respectively.

Forte Oil led the gainers, as it depreciated by N0.35 to close at N16 while CHAMPION and followed suit with N0.11 loss to close at N1.14 and CUSTODIAN, FBNH and UBA shed N0.05 each to close at N5.95, N5.40 and N6.45 per share respectively.