Stock market rebounds as investors gain N65bn

For the first time this week, trading on the Nigerian stock market rebounded on Friday, March 21, 2015, reversing a four-day bearish trend with a gain of N65 billion.

The Nigerian Exchange Limited (NGX) market capitalisation rose by N65 billion or 0.09 per cent, closing at N65.819 trillion, up from N65.754 trillion recorded on Thursday.

The All-Share Index (ASI) also increased by 104.19 points or 0.09 per cent, closing at 104,962.96, compared to 104,858.77 in the previous session.

The stock market breadth closed positive, with 29 gainers outpacing 21 losers.

On the gainers’ chart, Linkage Assurance surged by 10 per cent, closing at N1.43 per share.

Livestock Feeds gained 9.93 per cent, ending at N8.41 per share.

Mutual Benefit Assurance rose by 9.84 per cent, closing at 67k per share.

The United Bank for Africa (UBA) advanced by 5.75 per cent, reaching N36.80 per share.

Oando increased by 5.59 per cent, closing at N51.00 per share.

On the losers’ chart, Red Star Express declined by 9.91 per cent, closing at N4.82 per share.

Again, stock market investors lose N35bn

Learn Africa dropped 9.85 per cent, to N3.02 per share, while eTranzact International lost 9.43 per cent, closing at N4.80 per share.

WAPIC Insurance dropped 9.39 per cent, ending at N2.22 per share.

Ikeja Hotel decreased by 9.35 per cent, closing at N9.70 per share.

A total of 397.21 million shares worth N14.170 billion were traded across 10,099 deals.

This marks an increase compared to 310.53 million shares valued at N6.247 billion exchanged in 10,182 transactions on the previous day.

Fidelity Bank led the activity chart with 62.271 million shares worth N1.062 billion.

Access Corporation followed, trading 38.326 million shares valued at N843.68 million.

Tantaliser exchanged 31.992 million shares worth N99.179 million.

Veritas Kapital Assurance traded 31.43 million shares valued at N38.409 million, while Zenith Bank recorded 22.677 million shares worth N1.055 billion.

The Star