Equity market rebounds, gains N382bn



Transactions on the floor of Nigerian Exchange (NGX) yesterday closed higher, gaining N382 billon.

The market performance according to operators was lifted by activities in Dangote Cement Plc and Nestle Nigeria Plc which recorded gains of N6.53 and N6.36 respectively.

Specifically, market capitalisation of listed equities appreciated by N382 billion or 1.88 per cent to N20.627 trillion from N20.245 trillion reported the previous day.

The NGX All Share Index also appreciated by 733.30 basis points to 39592.29 points from 38858.99 points traded on Wednesday.

The market closed with higher value as investors exchanged 474.371 million shares valued at N4.005 billion in 3547 deals against 526.300 million shares worth N3.044 billion exchanged hands the previous day in 3535 deals.

An analysis of the investment showed that Northern Nigeria Flour Mills Nigeria Plc led gainers table during the day, gaining 6.88 per cent to N8.55, FBNHoldings Plc followed with a gain of 6.62 per cent to N8.05 , Dangote Cement Plc gained 6.53 per cent to N261.00, Nestle Nigeria Plc added 6.36 per cent to N1489.00 while Courtvellle Business Solutions gained 6.06 per cent to N0.35.