Equity market rebounds, gains N261bn

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Domestic Equity market on Wednesday rebounded gaining N261 billion following gain recorded by some highly capitalised and medium stocks.

Market capitalisation of listed equities appreciated by 0.90 per cent to N29.201 trillion from N28.940 trillion it closed on Tuesday.

The NGX All Share Index also increased by 479.17 basis points to 53603.80 points from 53124.63 traded the previous day.

A review of transactions showed that Oando Plc led gainers table in percentage terms, increasing by 9.84 per cent to close at N4.91 per unit, Caverton followed with a gain of 8.08 per cent to close at N1.07 per share, Ikeja Hotel also recorded gain of 7.77 per cent to close at N1.11, Transnational Corporation of Nigeria added 7.14 per cent to close at N1.50, Dangote Cement up by 5.07 per cent to N290.00.

On the contrary, May and Baker topped losers chart for the day in percentage terms,declining by 8.70 per cent to close at N4.20 per share, Chi Plc trailed with a drop of 8.06 to close at N0.57 per share, RTBriscoe fell by 7.69 per cent to close at N0.24 per unit, FTNCocoa dipped by 7.14 per cent to close at N0.26 per unit, Cap Plc sheds 5.79 per cent to close at N17.90 per share.

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