Equities market rebounds as investors gain N60bn

The Nigerian equities market rebounded from the previous day’s loss with a profit of N60 billion for investors at the close of the day’s trading.

This followed a surge in the share prices of stocks like Gold Breweries, Guinea Insurance, and African Prudential Insurance amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation surged to N59.5 trillion from N59.4 trillion recorded by the bourse on Monday.

The benchmark All-Share Index (ASI) increased to 98,206.97 from 98,107.52 recorded the previous day.

The market breadth was positive as 36 stocks advanced and 21 stocks declined, while 67 stocks remained unchanged in 9,098 deals

Gold Breweries, Guinea Insurance, and African Prudential Insurance led other gainers with 9.93 percent, 9.80 percent, and 9.70 percent growth each in share prices to close at N6.53, N0.56, and N13.00 from the previous N5.94, N0.51 and N11.85 per share.

John Holt, HM CALL, and Morison led other price decliners with 9.96 percent, 9.91 percent, and 9.89 percent decline each in share prices to close at N7.23, N5.27, and N4.01 from the previous N8.03, N5.85 and N4.45 per share.

On the volume index, WAPIC led trading with 457 million shares in 77 deals followed by STERLING NIGERIA which traded 138 million shares in 209 deals.

Japaul Gold traded 30 million shares in 135 deals.

On the value index, MTN Nigeria traded stocks worth N4.3 billion in 313 deals followed by WAPCO which traded equities worth N1.2 billion in 549 deals.

UBA traded shares valued at N962 million in 298 deals.