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NGX Equities market rebounds with N30bn gain

Toyin Ajadi

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Transactions on the equities market of the Nigerian Exchange Group (NGX) closed in the positive territory on Wednesday as investors gained N30 billion, making the market capitalization close at N20.099 trillion as against N20.069 trillion on Tuesday.

 

In the same vein, the All-share Index gained 0.15% or 57.41 points to close at 38,564.70 compared to 38,507.29 recorded on Tuesday.

 

Market sentiment was also positive as the market recorded 27 gainers relative to 22 losers at the close of trade.

 

The gainers were led by Cornerstone Insurance which appreciated by N0.05k to close at N0.55k, followed by Morison Industries with share price appreciation of N0.12 to close at N1.36k and Learn Africa  gained N0.06k to close at N0.98k.

 

Conversely, Abbey Mortgage Bank Plc lost N0.10k to close at N0.95k, followed by Consolidated Hallmark Insurance, which lost N0.07k to close at N0.67k. Computer Warehouse Group lost N0.09k to close at N1.15k.

 

Sterling Bank had the biggest volume of shares of 37.47 million valued at N57.82 million followed by Ecobank Transnational Incorporated with 27.39 million shares worth N142.47 million.

 

At the close of trading on Wednesday, 302.72 million shares valued at N2.81 billion were exchanged in 4,387 deals.

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