Equity market rebounds, gains N217bn

Tradingng activities on the floor of Nigerian Exchange (NGX) Wednesday returned to bullish trend, gaining N217 billion.

Specifically, market capitalisation of listed equities increased by 0.98 per cent to N22.142 trillion from N21.925 trillion reported the previous day.

The NGX All Share Index also appreciated by 416.24 basis points to 42435.16 points from 42018.92 points traded the previous day.

Investors traded 649.766 million shares valued at N7.203 billion in 3757 deals against 639.442 million shares cost N6.626 billion in 4564 deals.

A review of Transactions showed that Living Trust Mortgage Bank led gainers table during the day, gaining 9.09 per cent to N0.96, Meyer Paint also gained 7.69 per cent to N0.28, Mansard Insurance gained 7.25  per cent to N2.22, Dangote Sugar added 6.67 per cent to N16.00, Honey Well Flour increased by 6.51 per cent to N3.60,

On the contrary, Cutix Plc topped losers chart dropping by 9.69 per cent to N2.61, Royal Exchange trailed with a loss of 8.06 per cent to N0.57, Mutual Benefits Assurance dipped by 7.69 to N0.24, Sovereign Trust Insurance declined by 4.17 per cent to N0.23 while NAHCO down by 2.51 per cent to N3.50.

The result further showed that FBNHoldingsrecordedthe highest volume of activities during the day, exchanging 441.927 million shares valued at N504.019 million, Sterling Bank followed with account of 64.433 million shares valued N959.438 million, GTCO Plc traded 20.670 million  shares cost N501.361 million, United Bank for Africa exchanged 14.726 million shares worth N115.952 million, Access Bank traded 12.301 million. shares cost N110.597 million.