Market Rebounds, Investors Gain N10bn After Bearish Run

The bearish run of the Nigerian Exchange Limited was halted on Tuesday as the market rebounded with N10bn gain for investors.

The equities market capitalisation appreciated by 0.03 per cent to N29.909tn, the same percentage as the All Share Index, which rose to 54, 906.65 from 54, 886.04 recorded on Monday.

A total volume of 127.744m shares worth N1.586bn was exchanged in 2,987 deals on Tuesday.

The market sentiments were flat as there were both 12 equities on the gainers’ and losers’ tables at the close of the day’s trading.

Leading the gainers’ table were Linkage Assurance, Wapic and Champion, which gained 9.76 per cent, 7.89 per cent and 4.26 per cent to close at N0.45, N0.41 and N4.90 respectively.

Atop the losers’ table was Ikeja Hotel with a 9.65 percentage loss to close trading at N1.03. Cadbury followed with a 5.83 per cent loss in its share value to close at N11.30 and UPL suffered a 4.76 per cent loss in its share price to close trading at N2.00.

On the Most Traded table of the NGX, the shares of Zenith Bank led with 11,964,640 shares worth N298.835m exchanged in 255 deals. This was followed by another financial organisation, GTCO, which had 10,472,370 million of its shares worth N 258.239m traded in 252.

MTN Nigeria was the third most traded stock on Tuesday with 421,619 of its shares valued at N98.138m.