After days of losses, Nigerian stock market rebounds by 0.78%
After days of persistent bearish trend, transactions on the nation’s bourse rebounded on Thursday by 0.78 percent.
Specifically, the All-Share Index rose by 318.29 points or 0.78 percent to close at 41,014.30 compared with 40,696.01 posted on Wednesday.
Also, the market capitalisation, which opened at N21.289 trillion inched higher by N167 billion or 0.78 percent to close at N21.456 trillion.
The gain was driven by price appreciation in large and medium capitalised stocks amongst which are: Dangote Cement, Mutual Benefits Assurance, Sovereign Trust Insurance, Vitafoam and Unilever.
Dangote Cement dominated the gainers’ chart in percentage terms, gaining 7.04 percent to close at N228 per share.
Mutual Benefits Assurance followed with 5.41 percent to close at 39k, while Sovereign Trust Insurance appreciated by 3.70 percent to close at 28k per share.
Vitafoam rose by 3.33 percent to close at N9.30, while Unilever appreciated by 2.57 percent to close at N13.95 per share.
On the other hand, Linkage Assurance and Livestock Feeds led the losers’ chart in percentage terms, losing 10 percent each to close at 54k and N2.25 per share, respectively.
Nigerian Aviation Handling Company dipped 9.96 percent to close at N2.08,p per share.
Northern Nigeria Flour Mills lost 9.88 percent to close at N7.02, while Portland Paints & Products shed 9.84 percent to close at N2.84 per share.
Also, the total volume of shares traded rose by 247.4 per cent as investors bought and sold 1.27 billion shares worth N6.39 billion in 6,573 deals.
This was against 366.86 million shares valued at N5.84 billion achieved in 5,718 deals on Wednesday.
Transactions in the shares of LivingTrust Mortgage Bank, formerly Omoluabi Mortgage Bank, topped the activity chart with 796.45 million shares worth N493.80 million.
Transcorp followed with 55.75 million shares valued at N50.54 million, while FBN Holdings traded 51.94 million shares worth N364.51 million.
United Bank for Africa accounted for 48.78 million shares valued at N380.21 million, while Zenith Bank transacted 37.11 million shares worth N885.3 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
New Jersey registered 6,600 non-citizens as voters in error: Governor SherrillÂ
The governor attributed the error to a software glitch in the state’s Motor Vehicle Commission.
Abuja
Three Abuja security guards in court over alleged theft of scaffold pipes worth N1.8 million
The prosecutor said that the offence is contrary to Sections 79 and 289 of the Penal Code.
NationWide
Navy hands over two rescued victims of human traffickers to NAPTIP
Mr Folorunsho said that the handover was conducted by Forward Operating Base (FOB) BADAGRY, on July 19 at the agency’s Lagos Zonal Command in Ikeja.
States
Insecurity: Tinubu approves establishment of army battalion in Kwara
The battalion will be stationed in Omu-Aran, the headquarters of Irepodun Local Government Area.
World
Saudi oil tankers make U-turn in Red Sea as Houthi militants threaten attack
Three oil tankers carrying Saudi crude to China and India made U-turns in the Red Sea on Tuesday following a threatened attack from Yemen’s Iran-aligned Houthi militia.
NationWide
LP expresses confidence in Okereke-Konto’s presidential ticket to unseat Tinubu in 2027
Ms Usman said the Labour Party remained the only major political party fielding a woman as vice-presidential candidate for the 2027 presidential election.
