Domestic equity rebounds, gains N292bn

Transactions on the floor of Nigerian Exchange (NGX) Wednesday closed northward, gaining N292 as gains by shares of Dangactivities, NGX group lifted market activities.

Market capitalisation of listed equities appreciated by 1.23 per cent to N24.119 trillion from N23.827 trillion reported yesterday.

The NGX All Share Index also increased by 537.29 basis points to 44283.02 points from 43745.73 points reported on Tuesday.

Investors traded 155.406 million shares valued at N1.526 billion in 3796 deals against 172.866 million shares cost N4.014 billion in 4110 deals.

A review of the trading activities showed that Dangote Cement was the toast of investors during the day, growing by 8.84 per cent to N240.00, Chams Plc followed with a gain of 4.35 per cent to N0.24, Wapic Insurance gained 2.86 per cent to N0.36, Oando Plc added 2.09 per cent to N4.39, NGX group also gained 1.50 per cent to N20.30.

On the contrary, MRS topped losers chart during the day, shedding 9.65 per cent to N11.70, Transnational Corporation of Nigeria followed with drop of 9.33 per cent to N0.68, UPDC REITS fell by 8.33 per cent to N2.75, Unity Bank down by 6.67 per cent to N0.42 , United Bank for Africa dipped by 4.93 per cent to N6.75.

The result further showed that Sterling Bank was investors delight during the day, exchanging 24.284 million shares valued at N33.499 million, AccessCorp followed with account of 23.517 million shares cost N18.556 million, FBNHoldings traded 14.256 million shares valued at N140.992 million, GTCO Plc traded 10.212 million shares valued at N180.016 million while Fidelity Bank exchanged 10.027 million shares worth N42.085 million.