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Domestic equity rebounds, gains N10bn

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The nation’s domestic equity on Tuesday returned to positive note, appreciating by N10 billion. Market capitalisation of listed equities increased by 0.03 per cent to close at N29.909 trillion from N29.899 trillion reported the previous day.

The NGX All Share Index also appreciated by 18.64 basis points to 54904.68 points from 54886.04 points recorded the previous day.

An analysis of the Investment showed that Linkage Assurance led gainers table in percentage terms, appreciating by 9.76 per cent to close at N0.45 per unit, Wapic Insurance followed with a gain of 7.89 per cent to close at N0.41 per share, Champion Breweries added 4.26 per cent to close at N4.90 per share, Sterling Bank gained 2.67 per cent to close at N1.54 per share, Jaiz Bank increased by 2.30 per cent to close at N0.89 per unit.

On the contrary, Ikeja Hotel recorded the highest loss in percentage terms, declining by 9.65 per cent to close at N1.14 per share, Cadbury Nigeria Plc followed with a drop of 5.83 per cent to close at N12.00, UPL fell by 4.76 to close at N4.65 per share, International Breweries down by 4.30 per cent to N4.65, Regal Insurance declined by 3.45 per cent to close at N0.29 per share.

Volume of trades declined as investors traded 127.744 million shares valued at N1.586 billion in 2986 deals against 1.171 billion shares worth N2.876 billion exchanged hands the previous day in 3066 deals.

Transactions on the shares of United Bank for Africa UBA led activity chart during the day with 19.600 million shares valued at N157.244 million, Transnational corporation of Nigeria followed with account of 14.448 million shares valued at N15.505 million. Fidelity bank traded 12.738 million shares cost N65.668 million, Zenith Bank exchanged 11.964 million shares cost N298. 835 deals while GTCO Plc traded 10.472 million shares cost N258.239 million.

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