Investors Gain N300bn As Equities Market Rebounds

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Trading at the Nigerian equities market yesterday closed positive for the first time this week with a gain of N300 billion translating to 1.68 per cent, following buy interest in high capital stocks.

The All-Share Index increased by 575.18 absolute points, representing a growth of 1.68 per cent to close at 34,818.01 points. Similarly, investors gained N300 billion as market capitalisation advanced to N18.193 trillion.The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, Nigerian Breweries, Lafarge Africa, Dangote Sugar Refinery and Zenith Bank.

Market sentiment, as measured by market breadth, was positive with 38 stocks recorded gains relative to eight losers. Linkage Assurance and Sterling Bank recorded the highest price gain of 10 per cent each, to close at 55 kobo and N2.09, respectively, while Lafarge Africa followed with a gain 9.55 per cent to close at N24.10, per share.

Mutual Benefits Assurance and Union Diagnostic and Clinical Services declined by 7.14 per cent each to close at 26 kobo, each, while Unity Bank shed 6.98 per cent to close at 80 kobo, per share.

 

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