Equity market rebound, gains N72bn



Trading activities on the floor of Nigerian Exchange NGX yesterday rebounded, gaining N72 billion as investors continue to reposition investment on high paid dividend.

Operators said despite the good performance of most stock the Russian and Ukraine war is likely to affect the market gradually.

They said with strength of companies’ impressive earnings and changing market conditions, players are advice to invest or trade stocks in the strong group and sectors to be at defense.

Meanwhile, market capitalisation of listed equities increased by 0.28 per cent to N25.485 trillion from N25.413 trillion.

The NGX All Share Index also appreciated by 132.74 basis points to 47287.09 points from 47154.35 points recorded the previous day.

Investors traded 336.305 million shares valued at N5.860 billion in 5248 deals against 754.933 million shares cost N3.637 billion exchanged hands in 4330 deals.

An analysis of the investment showed that Presco Plc led gainers table during the day, increasing by 10 per cent to N114.95, Pharm Deko followed with a gain of 9.89 percent

to N0.56, Royal Exchange added 9.63 per cent to N1.48, RTBriscoe added 8.93 per cent to N0.61.

On the contrary, Ellah Lakes recorded the highest loss during the day, shedding 9.92 per cent to N3.45, May &Baker trailed with a loss of 9.91 per cent to N4.91, Neimeth international Pharmaceutical fell by 9.34 per cent to N1.65, Niger Insurance dipped by 8.70 per cent to N0.21. Cutix Plc down by 7.26 per cent to N2.30.

The result further showed that FBNHoldings was the toast of investors during the day, exchanging 108.614 million shares valued at N1.248 billion, GTCO Plc followed with account of 54.133 million shares cost N1.428 billion, United Capital traded 25.292 million shares valued at N308.507 million, Zenith Bank Plc exchanged 22.292 million shares worth N595.014 million while Caverton sold 14.946 million shares cost N19.043 million.