Equity market rebounds with N2bn gain

Adebayo Obajemu

The Nigerian equity market on Tuesday closed on a positive note as the All Share Index grew marginally by 0.02% to close at 25,136.49 points from the previous close of 25,132.67 points on Monday.

Investors gained N2 billion as market capitalization inches up by 0.02% to close at N13.113 trillion from the previous close of N13.111 trillion.

An aggregate of 271 million units of shares were traded in 3,693 deals, valued at N2.46 billion.

Market Breadth

The Market Breadth closed positive as 16 equities gained against 13 equities that declined in their share prices.

Percentage Gainers

University Press led other percentage gainers with 9.91% growth, closing at N1.22 from the previous close of N1.11.

Cornerstone Insurance and LASACO among other gainers also grew their share prices by 9.43% and 7.14% respectively.

Percentage Losers

Conoil led other price decliners as it shed 9.76% of its share price to close at N15.25 from the previous close of N16.90.

Ardova Plc and Oando both shed 9.68% of their share prices to close at N12.60 and N2.24 respectively.

Volume Drivers

Zenith Bank traded about 35.84 million units of its shares in 314 deals, valued at N600 million.

Guaranty Trust Bank traded about 35.29 million units of its shares in 186 deals, valued at N877 million.

LASACO traded about 33 million units of its shares in 92 deals, valued at N9.89million.