Stock market rebounds, gains N6bn

Trading activities on the floor of Nigerian Stock Exchange yesterday closed northward, gaining N6 billion as score cards of some listed companies hit the system.

Investors have increased investment in dividend paying companies.

Specifically, Market Capitalisation of listed equities increased by 0.03 per cent to N21.014 trillion from N21.008 trillion reported on Monday.

The NSE All Share Index also appreciated by 10.77 basis points to 40164.86 points from 40154.09 points recorded the previous day.

Investors traded 337.955 million shares valued at N3.845 billion in 5232 deals against 289.338 million shares worth N3.573 deals in 4953 deals.

An analysis of the transactions showed that AIICO Insurance led gainers table during day in percentage terms, increasing by 7.14 per cent or N0.08 kobo to close at N1.20 kobo, Livestock Feeds followed with a gain of 7.14 per cent (N0.15 kobo) to close at N2.25 kobo, Flour Mills Nigeria Plc gained 6.16 per cent (N6.16 kobo) Zenith Bank rose by 4.84 per cent (1.20 kobo) to close at N26.00, Cutix PLC appreciated by 4.65 per cent or N0.10 kobo to close at N2.25 kobo.

On the contrary, SUNU Insurance topped losers chart in percentage terms, declining by 9.88 per cent (N0.08 kobo to close at N0.73 kobo, Lasaco Insurance trailed with a loss of 9.87 per cent (N0.15 kobo) to close at N1.37 kobo, Africa Prudential dipped by 9.85 per cent (N0.65 kobo) to N5.95 kobo, ABC Transport fell by 8.57 per cent (N0.11 kobo) to close at N1.18 kobo.

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