Nigeria stock market rebounds Thursday

Equity market indicators rebounded by 0.23 per cent on Thursday due to price appreciation in some medium—and large-capitalised stocks.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation increased by N215 billion or 0.32 per cent to N66.868 trillion from N66.653 trillion opened on Wednesday.

The All-Share Index also rose by 0.32 per cent or 344 points to close at 106,780.72 when compared to 106,436.48 posted at the previous session.

The uptrend was driven by price appreciation in stocks such as Transnational Corporation, Guinness and Dangote Sugar.

The market breadth closed positive with 36 gainers and 15 losers.

On the gainers’ chart, Transnational Corporation led by 9.98 per cent to close at N51.80 per share.

SCOA Nigeria followed with an increase of 9.88 per cent to close at N3.78 per share.

Africa Prudential soared by 9.87 per cent to close at N30.60, while Tantalizers gained by 9.52 per cent, to close at N2.37 per share.

Also, Caverton Offshore Support Group advanced by 9.09 per cent, to close at 36k per share.

Sunu Assurance, MRS Nigeria Ltd. and Red Star Express led the losers’ table by 10 per each, to close at N4.77, N166.50 and N5.94 per share, respectively.

Meanwhile, Lasaco Assurance lost by 7.99 per cent, to close at N2.65, while UPDC Real Estate Investment Trust declined by 6.76 per cent, to close at N2.62 per share.

A total of 375.73 million shares worth N10.185 billion were exchanged across 11,447 transactions, compared to 389.57 million shares worth 11.309 billion that exchanged across 11,423 transactions earlier recorded.

READ ALSO: Alleged N1.38 Billion Fraud: Jude Okoye granted N50 million bail

Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 49.9 million shares valued at N2.91 billion.

This was followed by Access Corporation with N43.8 million shares worth N1.03 billion while Zenith Bank transacted 36.5 million shares valued at N1.72 billion.

Fidelity Bank sold 2.71 million shares worth N469 million shares and United Bank for Africa transacted 1.94 million shares valued at N705 million.

(NAN)