Stock Market Recovers, Gains N440bn

The All-Share Index rose by 808.77 per cent, representing a gain of 1.33 per cent, to close at 61,523.57 points. Similarly, the overall market capitalisation value gained N440 billion to close at N33.500 trillion.

The market positive performance was driven by price depreciation in large and medium capitalised stocks which are; Presco, BUA Cement, Conoil, Transcorp Hotel and MTN Nigeria Communications . Analysts at Afrinvest Limited said: ‘tomorrow, we expect the market to extend gains as investors continue to hunt for bargains.’

Also, market breadth returned to positive position, as 43 stocks gained relative to 30 losers. Learn Africa recorded the highest price gain of 9.97 per cent to close at N3.20, per share. Golden Guinea Breweries followed with a gain of 9.95 per cent to close at N2.21 and Chellaram up by 9.77 per cent to close at N1.46, per share.

John Holt appreciated by 9.62 per cent to close at N1.14, while Japaul Gold & Ventures and Omatek Ventures rose by 9.52 per cent each to close at 92 kobo and 46 kobo respectively, per share.

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