Bulls return as Stock market gains N299bn

Transactions on the floor of Nigerian Exchange yesterday rebounded, gaining N299 billion following increase in volume of activities in the shares of MTN Nigeria.

The NGX trading result for the day showed that market capitalisation of listed equities increased by 1.05 per cent to N28.721 trillion from N28.422 trillion reported the previous day. The NGX All Share Index also appreciated by 554.15 basis points to 53275.49 points from 52721.34 points traded on Wednesday.

Investors traded 274.556 million shares valued at N8.446 billion in 5184 deals against 611.973 million shares cost N7.426 billion in 5948 deals.

A review of the Investment showed that Transcorp Hotel led gainers table during the day,increasing by 9.89 per cent to N5.89, Betaglass followed with a gain of 9.74 per cent to N62.55, Mcnichols up by 9.60 per cent to N1.94, Veritas Kapital also appreciated by 9.52 to close at N0.23 while Multiverse added 9.09 per cent to N0.24.

On the contrary, Conoil Plc topped losers chart during the day, dropping by 10 per cent to N28.35, Eterna Plc followed with a gain of 9.59 per cent to N6.60, Prestige Insurance fell by 9.09 per cent to N0.40, Chams Plc dipped by 9.09 per cent to N0.22, Royal Exchange down by 7.35 per cent to N2.26.