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Stock Market Rebounds By N112bn

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The Nigerian stock market capitalisation, yesterday, gained by N112 billion as the market reversed from losing position amid bargain hunting on shares of

In summary, the All-Share Index rise by 213.86 absolute points, representing a increase of 0.49 per cent, to close at 43,444.20 points. Similarly, the overall market capitalisation value gained N112 billion to close at N22.672 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Airtel Africa, Cutix, FBN Holdings , United Bank for Africa and University Press. Meanwhile, market breadth was at par as 18 stocks advanced and 18 stocks declined. Cutix recorded the highest price gain of 8.33 per cent to close at N3.25, per share.

Cornerstone Insurance followed with a gain 7.69 per cent to close at 56 kobo, while Consolidated Hallmark Insurance went up by 6.90 per cent to close at 62 kobo, per share.Royal Exchange rose by six per cent to close at 53 kobo, while Regency Alliance Insurance gained 5.26 per cent to close at 40 kobo, per share.

On the other hand, Total Nigeria led the losers’ chart by 9.97 per cent to close at N216.80, while Mutual Benefits Assurance followed with a decline of 6.90 per cent to close at 27 kobo, per share.

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