Afreximbank’s FEDA Concludes Acquisition Of 5% Stake In Geregu Power

The Nigerian stock market yesterday bounced back, paring the prior session’s loss, as the benchmark Index closed 0.23 per cent stronger.

The All Share Index rose by 126.22 absolute points, representing a gain of 0.23 per cent to close at 54,315.53 points. Accordingly, investors gained N69 billion in value as market capitalisation went up to N29.589 trillion. University Press went up by 5.26 per cent to close at N2.00, while Veritas Kapital Assurance appreciated by 5.00 per cent to close at 21 kobo, per share. On the other hand, McNichols led the losers’ chart by 9.84 per cent to close at 55 kobo, per share. Wapic Insurance followed with a decline of 6.82 per cent to close at 41 kobo, while Royal Exchange went down by 6.67 to close at 70 kobo, per share.

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Bulls rebound as gains in 18 stocks lift indices by N69 billionThe Nigerian Exchange Limited (NGX) yesterday, bounced back as a result of gains in Geregu and 17 stocks, as market capitalisation appreciated by N69 billion. Besides, Geregu Power Plc has notified the Exchange and the investing public of the purchase of five per cent of its shares by the Fund for Export Development in Africa (FEDA).
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