Stock market rebounds 0.22%

. Diamond Bank tops gainers, top traded

Equities trading activities rebounded by 0.22 per cent on Tuesday, as the All-Share Index added 82.7
points to cross the 37,000 mark, a feat last achieved in August 2017.
The ASI closed at 37,013.57 points on the day Nigeria’s President, Muhammadu Buhari presented an N8.6 trillion budget for the 2018 year.

The recorded growth in the stock market on Tuesday was preceded by significant increases recorded in the Banking and Industrial goods
indices that appreciated 0.45 and 0.46 per cent respectively.
The consumer goods and the Oil&Gas Indices however recorded declines of 0.66 and 0.21 per cent, respectively.

Boosting the Banking index was Diamond Bank that emerged the day’s highest gainer. It gained 5.17 per cent to close at N1.22 per share. This
was followed by UPL that added 4.80 per cent to close at N2.84 per share and NEM emerged the third highest gainer with a 4.58 per cent growth to close at N1.37 per share.

On the other hand, international Breweries recorded the highest decline of 9.29 per cent to close at N41 per share. linkage assurance and
Morison Industries was next with a decline of 5 per cent each, to close at 76 Kobo and 57 Kobo, respectively.
The volume of shares transacted in 4,399 deals however dropped to 305.2 million units from 466.52 million
units sold on Monday in 4,274 deals, while the value traded closed flat at N2.905 billion.

Diamond Bank was the most active stock, trading 83.1 million shares valued at N98.2m.
Fidelity Bank followed with the sale of 39.9 million shares worth N66.3 million, while Cadbury traded 37.8 million shares valued at N391.7m.
FBN Holdings exchanged 34.3 million shares worth N241m, while Meyer sold 16.5 million shares valued at
N11.6m.

Stories: Bonny Amadi