NGX: Stock market rebounds by 0.28%

Chiamaka Okechukwu, Lagos

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Transactions in the Nigerian equities market rebounded in mid-week trading as investors gained over N71 billion on market capitalisation.


The bulls reverted the bearish sentiment that has persisted on Exchange for the last five days amid bargain hunting.


The major market component; the All-Share Index appreciated by 0.28% representing a 132.74 basis points to close at 47,287.09 on Wednesday higher than the 47,154.35 recorded on Tuesday.


Also the market capitalisation inched up by N71 billion to close at N25.485 trillion compared to the N25.413 trillion of the previous day.


At the end of the day’s trading session, a total of 336.31 million units of shares valued at N5.86 billion were traded in 5,248 deals.


The market sentiment, when measured by market breath was positive as trading ended with 30 gainers and 12 losers.


PRESCO led the gainers table with a price gain of N10.45k to close at N114.95k. Pharm Deko Plc followed with N0.18k gain on its share price to close at N2.00 and Linkage Assurance gained N0.05k to close at N0.56k.


On the other hand, ELLAH LAKES led the losers table with N0 18k loss on its share price  to close at N2.30k followed by MayBaker after losing N0.10k to close at N1.30k and Neimeth lost N1.13k to close at N2.49k.


Bilkisu Pai

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