The Nigeria stock exchange NSE market changed its over two weeks southward movement to attract a gain of N108 billion to the total stock value.
Analyst at Foresight Securities and Investment Limited explained that the profit recorded was borne out of renewed purchasing interest of some investors at a time that per share prices of many stocks have significantly fallen following several consecutive days of equities loss.
“Many investors will usually buy shares when the price is low; while the price also quickly adjusts to the market force,” An analyst told Daily Trust.
The depreciation yesterday which accounted for 1.14 per cent growth saw market capitalization closing higher at N9.598 trillion as the All-Share Index (ASI) also gained 315.12 points to close at 27,945.02 basis points.
The positive change also reflected on market breadth as advancing stocks outnumbered declined ones in the ratio 24 to 14, while 10 other stocks closed flat.
Nigerian Breweries Plc topped gainers chart with N1.63 kobo to close at N146.91 kobo per share; Guaranty Trust bank Plc followed with N1.06 kobo to close at N22.36 kobo per share while Ecobank Transnational Incorporated occupied the third position gaining N1.04 kobo to close at N13.43 kobo per share.
On the other hand, Seplat Nigeria Plc gained shed N15.67 kobo, closed at N297.83 kobo to lead the 13 other losers. Seven-Up Bottling Company Plc followed with N6.45 kobo loss to close at N134 per share and WAPCO Plc came next with 24 kobo to close at N59 kobo share.
While at the close of the session traded volume depreciated 24.25 per cent and value grew 3.17 percent, investors ended up trading 286.716 million shares valued at N2.341 billion in 4,316 deals as compares 378.514 million shares worth N2.269 billion they transacted on Monday in 3,519 trades.