Stocks market rebounds, gains N183.59bn
By Motolani Oseni
The equities market of the Nigerian Exchange Limited (NGX) on Wednesday rebounded from the previous session’s losses, as market capitalization gained N183.59 billion to close at N25.96 trillion, following gains in Telcos heavyweight, MTNNigeria (MTNN), alongside Tier-1 banks, such as Zenith Bank and GTCO, who were the primary drivers of the broader index’s recovery.
Specifically, the last trading session of the month, saw the Nigerian equities staged a rebound, recouping prior session losses as the benchmark index ended 0.71 per cent stronger to settle at 47,660.04 points, the highest point since 05 October.
As a result, the year-to-date (YTD) return rose to 11.57 per cent, even as yesterday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 19.97 per cent.
READ ALSO: Breaking: Yemi Alade to drop third EP, ‘African
A total of 107.02 million shares valued at N1.32 billion were exchanged in 3,227 deals. FBNH (+0.00%) led the volume chart with 12.53 million units traded while ZENITH BANK (+0.92%) led the value chart in deals worth N174.55 million.
Market breadth closed positive at a 4.5-to-1 ratio with advancing issues outnumbering declining ones. WEMABANK (+10.00%) led seventeen (17) others on the leader’s table while NB (-7.08%) topped three (3) others on the laggard’s log.
