Investors gain N343bn as stock market rebounds

The Nigerian stock market, on Tuesday,  rebounded from its previous session’s loss with N343 billion profit added to the portfolios of investors.

Investors’ interests in MTN Nigeria, alongside Guaranty Trust Holding Company (GTCO),Transnational Corporation and Oando Plc pushed the broader index into positive terrain.

Specifically, the Nigerian Exchange Ltd.(NGX)market capitalisation gained 0.62 percent or N343 billion to close at N55.626 trillion, having opened at N55.283 trillion.

The All-Share Index also increased by 0.62 percent or 597 points to close at 96,802.80 points, against 96,205.84 points recorded on Monday.

Consequently, the Year-To-Date (YTD) return rose by 29.46 percent.

Market breadth also closed positive with 32 gainers and 19 losers on the floor of the Exchange.

On the gainers’ chart, Skye Shelter Fund Plc led by N14.80 to close at N163.15, RT Briscoe followed with 28k to close at N3.10 per share.

Caverton gained 17k to close at N1.91,McNichols advanced by 12k to close at N1.47,and Custodian added N1.10 to close at N13.50 per share.

On the other hand, Learn Africa led the losers chart by 40k to close at N3.73, The Initiate Plc trailed by 13k to close at N1.79 per share.

Japaul Gold also dropped 18k to close at N2.52, AIICO Insurance shed 5k to close at N1.09, while Neimeth International Pharmaceuticals declined by 9.0k to close at N2.01 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 9.11 per cent.

A total of 406.19 million shares valued at N13.31 billion were exchanged in 12,241 deals, compared with 774.38 million shares valued at N14.65 billion in 10,412 deals traded in the previous session.

Meanwhile, Oando led the volume and value chart with 58.49 million shares worth N5.52 billion.