Stock Investors Gain N15 Billion as Stock Market Rebounds

Stock Investors Gain N15 Billion on Monday as Market Rebounds

The Nigerian Stock Exchange (NSE) rebounded on Monday following almost a week of bearish runs.

The bourse market capitalisation of listed equities expanded by N15 billion to N12.952 trillion on Monday while the NSE All-Share Index gained 0.12 percent from 24,829.02 basis points recorded on Friday to 24,858.89 bps on Monday.

A total of 18 stocks closed in the green while 29 emerged losers as overall sentiment remained weak amid rising economic uncertainties.

Stock investors traded a total of 158.72 million shares in 3,940 transactions during the trading hours.

Accordingly, the premium subsector led in terms of volume traded with 46.72 million shares exchanged in 1,299 deals. This was due to the improved activities in the shares of FBN Holdings Plc and Zenith Bank Plc.

Top gainers were Okumo Oil Palm Plc and Regency Alliance Insurance Plc with 10 percent gain each to settle at N1.76, N70.40 and 22 kobo per share, respectively.

Neimeth International Pharmaceuticals Plc and Wapic Insurance Plc followed with a gain of 9.49 percent and 9.38 percent to close at N1.50 per share and 35 kobo per share, respectively.

On the flip side, Unilever Nigeria Plc top losers’ chart with a decline of 10 percent to settle at N15.30 per share.

Stocks of Ardova Plc, formerly Forte Oil Plc and Chellarams Plc dipped by 9.96 percent and 9.97 percent to close at N11.75 per share and N2.51 per share, respectively.