Stock market rebounds on back of Q2 financial, economic data

The nation’s equity market yesterdat sustained posituve sentiments for the second successive session on a very high volume as investors await for second quarter financial results and economic data that would reveal the state of the economy.

The increasing buying interests in interim dividend paying stocks has contribued to high volume of activities recorded within the period.

Specifically,Market Capitalisation of listed equities increased by N103 billion or 0.52 per cent to N20.026 trillion from N19.923 trillion reported the previous day.

The Nigerian Exchange (NGX) All Share Index appreciated by 198.03 basis points to 38418.04 points from 38220.01 points traded on Monday.

Investors traded 288.926 million shares valued at N2.418 billion in 4540 deals against 282.824 million shares cost N1.868 billion traded the previous day.

A review of the investment sbowed that May & Baker Nigeria Plc led gainers table during the day, increasing by 9.65 per cent to close at N4.43 kobo, UAC Property followed with a gain of 9.57 per cent to close at N1.03 kobo, Total Nigeria Plc gained 9.24 per cent to close at N158.40 kobo, Chi Plc added 9.23 per cent to close at N0.71 kobo while UPL added 9.21 per cent to close at N1.66 kobo.