Transactions on the Nigerian Exchange Ltd. (NGX) rebounded on Wednesday by N69 billion due to sustained bargain-hunting, mainly in Dangote, Zenith Bank stocks.

The market capitalisation which opened at N29.575 trillion inched higher by N69 billion or 0.23 per cent to close at N29.644 trillion.

Also, the All-Share Index increased by 127.29 points or 0.23 per cent to close at 54,427.05 as against 54,299.76 points achieved on Tuesday.

The year-to-date (YTD) return rose to 66.2 per cent.

Consequently, market sentiment was positive with 19 stocks recording gains, relative to eight losers.

Tripple Gee led the gainers’ table in percentage terms, gaining 9.52 per cent to close at N1.15 per share.

International Energy Insurance trailed with 9.4 per cent each to close at N1.28, while Japaul Gold & Ventures gained 3.45 to close at 30k per share.

AXA Mansard Insurance rose by 2.5 per cent each to close at N2.05, while African Prudential Insurance inched up by 2.46 per cent to close at N6.25 per share.

On the other hand, Transnational  Express led the losers’ chart in percentage terms, losing 9.74 per cent each to close at 74k per share.

Transcorp followed with a loss of 7.35 per cent to close at N1.26 per share.

Courteville Business Solutions shed six per cent to close at 47 k, while Prestige Assurance dipped 4.76 per cent to close at 40k per share.

The total volume of shares traded dropped by 76.25 per cent with an exchange of 151.58 million shares worth N1.81 billion exchanged in 2,974 deals.

Universal Insurance Company topped the activity chart with 20.04 million shares valued N40.07 million.

Transcorp came second with 18.68 million shares worth N24.62 million, while Guaranty Trust Holding Company (GTCO) accounted for 17.03 million shares valued at N427.74 million.

Sterling Bank sold 15.62 million shares worth N23.9 million, while United Bank for Africa (UBA) transacted 7.74 million shares valued at N64.69 million. 

(NAN)