Stock market rebounds with N132.4bn gain

Following a string of negative market closing since Monday, the Stock Market made a rebound on Wednesday with investors gaining N132.4billion.

Market findings by Nigerian NewsDirect on the Nigerian Exchange Limited revealed that Nigerian equities market closed positively, gaining 243.51 basis points despite a negative market breadth.

However, the total volume traded declined by 32.55 percent to close at N360.60m, valued at N6.61 billion and traded in 6,579 deals. GTCO was the most traded stock by volume and value, with N56.91m and N2.19 billion units traded.

The NGX All-Share Index (ASI) also advanced by 0.34 percent, closing at 71,284.56 basis points, compared to the previous day’s loss of 0.44 percent, which closed at 71,041.05 basis points. The NGX Market CAP also recorded a gain of N132.45 billion in Naira terms.

By this, the NGXASI now sands at 39.09 percent.

The Gate Index also declined by 0.17 percent to close at 184.14, while the Toni index advanced by 0.16 per cent to close at 373.92 basis points.

At the close of trading, the market recorded 20 gainers, 38 losers, and 60 unchanged. SEPLAT topped the gainers list, while GUINEAINS topped the list of losers. 

GTCO had the highest volume contribution with 15.78 percent, while TRANSCORP and UBA followed closely behind.