Equity market rebounds with N217bn gain

The equity market rebounded on Thursday, adding N217 billion to investors’ portfolios. The gain was driven by stocks like Zenith Bank, Access Corporation, Aradel, among others.

Specifically, the market capitalisation rose by 0.37 pr cent, increasing from N58.515 trillion to N58.732 trillion.

Similarly, the All-Share Index gained 0.37 per cent, closing at 96,924.86 points, up from Wednesday’s 96,567.24.

This increase made the Year-To-Date (YTD) to stand at 29.62 per cent, with a positive market breadth of 33 gainers and 17 losers.

Conoil and Aradel Holdings led the gainers’ table by 10 per cent each to close at N236.50 and N441.20 per share, respectively.

Eunisell gained 9.42 per cent to close at N8.20, JohnHolt added 9.77 per cent to close at N4.38, while Thomas Wyatt Nigeria advanced by 9.71 per cent to close at N1.92 per cent.

On the other side, Tantalizers led the losers’ table by 6.25 per cent to close at 60k, NGX Group trailed by N5.81 per cent to close at N23.50 per share.

Wema Bank lost 5.63 per cent to close at N7.55, RT Briscoe decreased by N4.46 per cent to close at N3, while FCMB declined by 3.59 per cent to close at N9.40 per share.

Analysis of the market activities showed that trade turnover settled higher, compared to the previous session, with the value of transactions which increased by 64.10 per cent.

A total of 744.5 million shares valued at N16.48 billion were exchanged in 9,700 deals, compared with 418.39 million shares valued at N10.04 billion traded in 9,021 deals posted previously.

Meanwhile, Japaul Gold led the activity chart in volume with 100.93 million, while Julius Berger led in value of deals worth N4.55 billion.