Stock Market Sees Modest Rebound With N43bilion Gain

The Nigerian stock market, on Tuesday, August 30, bolted back with a modest leap,clearing the previous day’s decline as investors gained a total of N43 billion.

The market capitalisation which is the total market value of all publicly quoted firms on the NSE likewise added N42.8 billion to close at N9.442 trillion against a decline of N28 billion recorded previous session to close at N9.399 trillion.

Market breadth strengthen from the previous day with 17 gainers and 18 losers. Seven Up led the gainers table by 9.40 per cent to close at N127.99 per share. Nahco followed with a gain of 8.40 per cent to close at N3.50, while Skye Bank and Mobil advanced by 5 per cent each to close at 63 kobo and N170.78 per share, respectively. While Wema Bank went up by 4.50 per cent to close at 69 kobo.

On the other hand, May & Baker led the laggards’ table by 8.90 per cent to close at 92 kobo per share. Conoil trailed with a loss of 5 per cent to close at N20.57, while Cutix declined by 4.80 per cent to close at N1.57 per share.

Also, Fidelity Bank declined by 4.10 per cent to close at 93 kobo, while Sterling Bank shed by 4 per cent to close at 96 kobo per share.

Transactions in the shares of ETI topped the activity chart with 53.51 million shares valued at N607.72 million. NEM Insurance followed with 30.04 million shares worth N25.1 million, while UBA traded 19.88 million shares valued at N86.89 million.

Zenith Bank traded 19.33 million shares worth N290.79 and Guaranty Trust Bank transacted 15.04 million shares valued at N394.73 million.

Also, the total volume traded jumped significantly by 285.48 per cent to 230.14 million shares, valued at N2.74 billion, and traded in 3,536 deals.

 

 

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