Stock market rebounds, gains N66 billion
The Nigerian equity market, on Tuesday, recovered from the previous session’s decline, recording a N66 billion gain.
Investor interest in leading stocks such as Seplat, Oando, and StanbicIBTC contributed to the market’s upward trajectory.
The market capitalisation, which opened at N54.382 trillion, added N66 billion or 0.12 per cent to close at N54.448 trillion.
The All-Share Index also rose by 0.12 per cent or 114.24 to settle at 95,895.92, in contrast to 95,781.68 recorded on Monday.
As a result, the Year-To-Date (YTD) return rose to 28.25 per cent.
However, market breadth closed negative with 24 losers and 19 gainers.
On the losers’ chart, Thomas Wyatt led by 9.71 per cent to close at N1.58, and Omatek trailed by 6.85 per cent to close at 68k per share.
FTN Cocoa Processors lost 6.80 per cent to close at N1.92, Neimeth International Pharmaceuticals went down by five per cent to close at N1.90, while The Initiates Plc declined by 4.44 per cent to close at N2.15 per share.
On the other side, Learn Africa led by 9.94 per cent to close at N3.87, and Oando Plc followed by 9.90 per cent to close at N43.30 per share.
Cutix Plc gained 9.85 per cent to close at N2.90, RT Briscoe advanced by 9.63 per cent to close at N2.05, and UPL added 8.57 per cent to close at N2.66 per share.
Analysis of the market activities showed trade turnover settled higher than the previous session, with the value of transactions up by 0.50 per cent.
A total of 1.01 billion shares valued at N7.69 billion were exchanged in 8,295 deals, against 3.55 billion shares valued at N7.65 billion traded in 9,291 deals posted in the previous session.
Meanwhile, Jaiz Bank led the activity chart in volume and value with 651.29 million shares worth N1.50 billion, followed by Sterling Nigeria with 53.94 million shares valued at N218.41 million.
International Breweries traded 28.41 million shares worth N128 million, FCMB Group sold 21.87 million shares valued at N166 million, and Access Corporation transacted 20.29 million shares worth N394.09 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 2
South Africa to extradite Zimbabwean Zandile Tshuma to UK over wife, daughters’ murderÂ
The justice minister said, “Mr Tshuma will be extradited to the UK once I have signed all the extradition documents and requests.”
Heading 4
Kuwait, UAE, Qatar declare four-day mourning as former Qatari emir dies at 74
The seat of rule of the State of Qatar, Amiri Diwan, announced the demise of the former emir in a statement on Sunday.
Heading 3
Prioritise trauma healing for rescued Oyo hostages, Catholic bishops tell FG, Oyo govt
The bishops also called on citizens to be vigilant and work with vigilance groups to ensure miscreants no longer terrorised communities.
NationWide
Rights activist Okei-Odumakin hails Soyinka’s enduring global contributions @92
Mrs Okei-Odumakin stated, “Prof. Soyinka’s life is a summary of Nigeria’s tempestuous history.”
States
Lagos commissioner praises Tinubu, Oyo govt, security agents over pupils, teachers’ rescueÂ
The commissioner urged school administrators and communities to strengthen school security infrastructure.
