NGX Equity Market Rebounds With N9bn Profit

SEC Warns Nigerians Against Investing In FinAfrica, Poyoyo

The Nigerian stock exchange recovered on Monday, with market capitalization increasing by N9 billion or 0.02 percent to N39.621 trillion, up from N39.612 trillion on Friday.

In addition, the All-Share index (ASI) rose 15.68 points, or 0.02 percent, to 72,389.23, up from 72,404.91 on Friday.

Stocks such as United Bank for Africa (UBA), WAPCO, and Fidelity Bank drove the strong performance. As a consequence, the YTD return increased to 41.27 percent. The market finished down, with 18 equities on the gainer’s table and 31 on the laggard’s.

Infinity Trust Mortgage Bank headed the gainers table with a 9.93% gain to settle at N3.10 per share, followed by Johnholt with a 9.87% per cent to close at N2.45 per share.

Transcorp Hotel also increased by 9.38 per cent to close at N51.30 per share, SCOA Nigeria Plc gained 8.62 per cent to close at N1.89, while FTN Cocoa Processor Plc grew by 7.53 per cent to close at N1.57 per share.

On the loosers table, ABC Transport led in percentage terms by 9.98 per cent to close at 82k per share, while E-Tranzact closed by 9.42 per cent at N6.25, while RTbriscoe closed 8.33 per cent at 55k per share. Sovereign Trust Insurance lost 7.69 per cent to close at 36k, while The Initiative Plc shed 6.84 per cent to close at N1.09

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 33.03 per cent. Naira Devaluation Deepens Economic Crisis in Nigeria. A total of 324.25 million shares valued at N4.4 billion were exchanged in 6,745 deals.

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