Equities Market Rebounds, Gains N83bn

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Domestic equities today bounced back from losses earlier in the week, as the market capitalisation gained N83 billion

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The All Share Index (ASI) rose by 153.31 absolute points, representing a gain of 0.29 per cent to close at 52,752.96 points. Accordingly, investors gained N83 billion in value as market capitalisation went up to N28.733 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Geregu Power, TotalEnergies Marketing Nigeria, Nigerian Exchange Group (NGXGroup), Stanbic IBTC Holdings and Access Holdings.

Also, market breadth closed positive as 25 stocks posted gains while seven declined. Geregu Power recorded the highest price gain of 10 per cent to close at N147.40, per share. Wapic Insurance followed with a gain 9.76 per cent to close at 45 kobo, while Chellaram went up by 9.70 per cent to close at N1.81, per share.

International Energy Insurance went up by 9.43 per cent to close at 58 kobo, while Tripple Gee & Company appreciated by 9.09 per cent to close at 96 kobo, per share.

On the other hand, R.T. Briscoe Nigeria led the losers’ chart by 9.09 per cent to close at 30 kobo, per share. Royal Exchange followed with a decline of 8.24 per cent to close at 78 kobo, while Courteville Business Solutions went down by 7.84 to close at 47 kobo, per share. Linkage Assurance lost 4.00 per cent to close at 48 kobo, while Transnational Corporation of Nigeria (Transcorp) shed 0.82 per cent to close at N1.21, per share.

The total volume traded increased by 16.55 per cent to 139.682 million shares, worth N2.022 billion, and traded in 3,549 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 17.793 million shares valued at N433.176 million. Access Holdings followed with 15.379 million shares worth N141.381 million, while Fidelity Bank traded 11.904 million shares valued at N64.897 million.

Mutual Benefits Assurance traded 6.851 million shares valued at N2.395 million, while Dangote Sugar Refinery transacted 6.692 million shares worth N113.064 million.

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