Stock investors gain N53bn as NGX rebounds

Stock investors at the Nigerian capital market saw respite on Wednesday after the midweek trading session led to N53 billion profit.

Recall that activities on the floor of the local bourse had been in the firm grip of bears in the previous three consecutive sessions during which investors parted with N146 billion to weak sentiment amidst full-year results and dividend announcements.

As the market closed in the green on Wednesday, the equities benchmark index that tracks share prices grew by 0.21 per cent to close at 47157.23 basis points.

Similarly, aggregate value of equities at the market advanced by N53 billion to close higher at N25.411 trillion from N25.358 trillion on Tuesday.

The session witnessed a mixed activity level with traded volume advancing by 24.78 per cent to close at 297.25 million shares, while traded value shrank by 7.86 per cent at N4.694 billion in 4,661 deals.

The bull outlook of the session also reflected on the market breadth which closed in favour of the bulls with the emergence of 27 gaining stocks against 14 declining counterparts.

According to trading data obtained from the Nigerian Exchange Limited (NGX), RT BRISCOE topped the gaining charts after 10% gain to close at N0.33, followed by SCOA with 9.49% uptick to close at N1 per share.

Other gainers include SUNUASSUR, NEM and UBN, appreciating by 8.33%, 7.25% and 6.84% to close the session at N0.39, N3.55 and N6.25 per share respectively.

On the flip side, decliners camp was led by JULI’s 9.89% decline to close at N0.82 per share. MULTIVERSE trailed with 4.76% loss while SOVRENINS shed 4.17% to close at N0.23 per share.

Other decliners are AIICO and UPDCREIT, losing 4.17% and 2.74% to close the trading session at N0.71 and N3.55 per share respectively.