Nigerian Bourse rebounds with 0.40% growth, investors gain N60bn

The current civil unrest which escalated into a monstrous chaos has been posing serious challenge to the economy of Africa’s most populous nation. However, trading on the floor of Nigerian equity market on Thursday defied all odds as the All Share Index closed 0.40% higher, settling at 28,563.87 points from the previous close of 28,449.49 points.

The Market Capitalization grew by 0.40% to close the day at N14.930 trillion from the previous close of N14.870 trillion, thereby gaining N60 billion.

Aggregate volume of traded stocks was 311 million units, down by 4.67% from the previous close of 327 million units while the traded stock valued at N4.7 billion in 3,375 deals.

Market Breadth 

The market breadth closed positive as 21 equities gained while 12 equities declined in their share prices.

Percentage Gainers

UAC Nigeria led other gainers with 8.33% growth to close at N7.15 from Wednesday’s close of and N6.60.

Union Diagnostic, FCMB and UCAP among other gainers also grew their share prices by 8.00%, 7.96% and 6.44% respectively.

Percentage Losers

WAPIC led price decliners chart as it shed 9.09% of its share price to close at N0.40 from the previous close of N0.44

UAC Property, GLAXOSMITH and International Breweries among other price decliners also shed their share prices by 3.66%, 3.57% and 2.95% respectively.

Volume Drivers

Guaranty traded about 77 million units of its shares in 201 deals, valued at about N2.3 billion.

Access Bank traded about 57 million units of its shares in 216 deals, valued at N442 million.

Zenith Bank traded about 40 million units of its shares in 448 deals, valued at N813 million.

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