Equities rebound, indices up by N124 billion

Forex Market
  • Equities rebound, indices up by N124 billion

Equity transactions rebounded after a two-day losing streak yesterday, following heavy price gains recorded by major highly capitalised stocks especially Total and Dangote Cement, as indices soared by N124billion.

Yesterday, market capitalisation increased by N124billion or 1.02 per cent from N12.012trillion achieved on Tuesday to N12.136trillion. Also the All-share index rose by 361.07 points from 34,846.82 to 35,207.89.

Total Plc emerged the day’s highest price gainer with 7.90 kobo to close at N231.39 per share, while Dangote Cement followed with 7.59 kobo to close at N213.39 per share.

Seven-Up garnered 4.18 kobo to close at N90.00 per share. Forte Oil added 2.00 kobo to close N49.90 per share. WAPCO appreciated by 0.56 kobo to close at N49.10 per share. Oando added 0.25 kobo to close at N5.90 per share.

May & Baker gained 0.13 kobo to close at N2.77 per share. Guaranty Trust Bank added 0.16 kobo to close at N38.70 per share. Zenith Bank gained 0.08 kobo to close at N22.08 per share. Continental Reinsurance also appreciated by 0.07 kobo to close at N1.50 per share.

However, Nestle topped the losers chart with 389 kobo to close at N1,225.01 per share. National Salt Company of Nigeria followed with N0.65 kobo to close at N12.35per share.

Stanbic IBTC lost 0.50 kobo to close at N39.50 per share. Union Bank dropped 0.28 kobo to close at N5.72 per share. United Bank for Africa depreciated by 0.25 kobo to close at N8.50 per share. Mansard dropped 0.09 kobo to close at N1.90 per share.

C&I Leasing and TransNational Corporation shed 0.05 kobo each to close at N1.21 and N1.16 per share respectively. Sterling Bank lost 0.04 kobo to close at N0.95 per share. Neimeth also shed 0.03 kobo to close at N0.61 per share.

Meyer dominated in volume terms with 20 million shares worth N14million, while Access Bank followed with 14 million units worth N144million. TransNational Corporation exchanged 12 million units valued at N14million. First City Monument Bank traded 11 million shares worth N12million. Fidelity Bank exchanged 7 million units worth N9.3million.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya

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