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Nigerian equities rebound as investors recoup N21bn on Friday



Seizing the entry opportunity during the Easter holiday-shortened week, the equity market posted 1.98 per cent growth, equivalent to N500 billion profit for investors in the market.
  • Turnover volume shrinks 16.31%; value down 13.49%
  • As 20 bulls emerge against 6 bears


Equities investment at the Nigerian capital market has recovered N21 billion from previous losses to waves of profit-booking by investors in the market.

Trading activities closed in the green territory on Friday as the market benchmark index closed higher at N25,572.57 basis points, amounting to addition 39.83 points or 0.16 per cent rise m in the All-Share Index (ASI).

Proportionally, this reflected in the aggregate value of the domestic equities market which gained N21 billion to close the session at N13.365 trillion higher than N13.344 trillion it closed the preceding session.

The development of the day defied experts’ predictions at various quarters as they expected sustained profit-taking and more losses during the session.

However, the turnover for the session was on the negative side as both traded volume and value plunged notably by 16.31 per cent and 13.49 per cent respectively, contrasting a positive market sentiment that held sway during the session, with emergence of 20 gainers against six decliners, while 17 others closed session on unchanged prices.

In the gaining camp, the bulls are led by Dangote Sugar with N0.08 profit to close at N12 per share. GTBank trialed with N0.35 price increase to close at N25.35 per share.

Similarly, CUSTODIAN, NEINETH and CAVERTON followed wiur N0.30, N0.15 and N0.14 gains to close at N4.85, N1.95 and N1.84 per share respectively.

In the bears camp, CONERST and CUTIX lost most values of N0.05 each to close at N0.61 and N1.70 per share. ABCTrans, LASACO and JAIZBANK lost N0.03, N0.02 and N0.01 to close at N0.30, N0.25 and N0.59 per share accordingly.

At the end of the session, investors moved 193.495 million shares worth N1.846 billion traded in 2,934 transactions compared with 231.202 million shares valued at N2.095 billion that exchanged hands in 3,360 deals.

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