NGX rebounds with N158bn gain for investors

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NGX-750×375After starting the week in the reds, the Nigerian Exchange Limited rebounded and returned a profit for investors on Tuesday.

The market capitalisation had lost N89bn on Monday just as the National Bureau of Statistics announced that inflation rose to 26.72 per cent in September, mostly driven by food inflation.

At the close of trading on Tuesday, there was significant appreciation in the indices compared to the previous day’s trading.

The number of deals rose by 12.81 per cent to 6,729 compared to 5,965 on Monday. The volume of shares traded jumped by 74.92 per cent to 377.97 million units of shares and the value of the shares rose by 45.57 per cent to N5.16bn at the close of trading.

Both the All-Share Index and the market cap rose by 0.43 per cent to close at 67,326.12 and N36.988tn respectively.

Market breadth which measures investors’ sentiments, was positive at 1.23x compared to its previous market breadth of 0.86x as 27 stocks gained against 23 losers.

Leading the gainers’ chart was Julius Berger with a 10 per cent gain to close at N36.30, followed by Computer Warehouse Group whose shares appreciated by 9.83 per cent to close at N9.50, Oando closed at N9.15 on a 9.58 per cent appreciation in its shares, Thomas Wyatt’s shares rose by 9.29 per cent to close at 3.06 and Stanbic IBTC gained 5.56 per cent to close trading at N76.

On the losers’ table, Multiverse led as it shares depreciated by 9.49 per cent to close at N2.67, Unity Bank’s shares dipped by 9 per cent to 91 Kobo per unit, Nigerian Breweries dipped by 7.38 per cent to close at N38.90 and ETranzact shed 6.67 per cent in its share value to close at N8.40.

The volume and value drivers of the day’s bourse were mostly banking stocks. ETranzact led the volume chart with 44.06 million units worth N370.15m traded in 20 deals. United Bank for Africa recorded 544 deals involving over 42 million shares valued at N796.35, AccessCorp had 33.31 million units of its share worth N560.38m traded on Tuesday, over 31.20 million units of Fidelity Bank’s shares worth N25.71m exchanged hands and Sterling Financial Holdings had 24.67 million units of its shares valued at N84.26bn traded in 127 deals.

The number of stocks that traded at the end of the day’s session stood at 118.

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