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Nigerian stock exchange trade rebounds by 3 billion naira

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The recovery of the markets is explained by the renewed interest of investors in purchases of the financial and industrial sectors.

As a result, market capitalization edged up 3 billion naira or 0.01 percent to close at 20,278 trillion naira, from 20,275 trillion naira on Monday.

In addition, the All-Share index rose 4.88 points or 0.01% to close at 38,920.50 from 38,915.62 on Monday.

The positive market performance was driven by the price appreciation of large and mid-cap stocks such as UACN, Dangote Sugar Refinery, Africa Prudential, Oando and University Press.

Afrinvest Limited analysts said: “During the next trading session, we anticipate negative performance as the market remains short of a positive catalyst.”

However, the breadth of the market closed negatively recording 21 losers to 14 winners.

UACN Property Development Company topped the winning chart in terms of a percentage of 9.93 percent to close at N 1.66 per share.

Academy Press followed with 8.33% to close at 39,000, while Courteville Business Solutions appreciated 7.41% to close at 29,000 per share.

Vitafoam rose 3.88% to close at N 17.40, while Livestock Feeds appreciated 2.88% to close at N 2.14 per share.

On the other hand, Sovereign Trust Insurance topped the losing chart in percentage terms of 7.41% to close at 25,000 per share.

University Press followed with 6.42 percent to close at N 1.02, while Regency Alliance Insurance lost 6.25 percent to close at 45,000 per share.

UACN lost 4.85% to close at N 9.80, while Chams fell 4.55% to close at 21,000 per share.

Meanwhile, total volume rose 13.6% to 228.48 million shares worth N1.88 billion traded in 3,376 deals.

This contrasts with the 201.10 million shares valued at 2.53 billion naira made in 3,340 transactions on Monday.

Trading in Wema Bank shares dominated the activity chart with 46.76 million shares valued at N35.97 million.

Access Bank followed with 28.24 million shares valued at N263.49 million, while United Bank of Africa sold 17.77 million shares valued at N135.08 million.

Mutual Benefits Assurance traded 17.24 million shares worth 4.88 million Naira, while Fidelity Bank traded 14.80 million shares worth 36.07 million Naira.

Sources

1/ https://Google.com/

2/ https://www.pulse.ng/business/trading-on-nigerian-stock-exchange-rebounds-by-n3-billion/bxq10eq

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