Market regains investors’ confidence, appreciates by N224bn

Market regains investors’ confidence, appreciates by N224bn

Market regains investors’ confidence, appreciates by N224bn

The stock market rebounded on Tuesday after Monday’s loss as investors showed renewed positive sentiment.

The Nigerian Stock Exchange market capitalisation appreciated by N224bn, with 37 stocks making the gainers’ chart.

The market had started the week with a loss of N163bn on Monday, which was the first day of foreign exchange trading under the new forex framework.

The NSE market capitalisation rose to N10.105tn from N9.881tn, just as the All-Share Index appreciated to 29,422.71 basis points from 28,769.90 basis points.

A total of 533,317 million shares valued at N6.789bn exchanged hands in 5,736 deals.

Glaxo Smithkline Consumer Nigeria Plc, Champion Breweries Plc, Access bank Plc, Nigerian Aviation Handling Company Plc and Dangote Sugar Refinery Plc emerged the top five gainers.

GSK shares soared by N1.53 (10.20 per cent) to close at N16.53 from N15, while those of Champion Breweries closed at N4.04 from N3.70, appreciating by N0.34 (9.19 per cent).

The share price of Access Bank rose to N6.10 from N5.80, gaining N0.30 (5.17 per cent), while that of NAHCO appreciated by N0.20 (4.98 per cent) to close at N4.22 from N4.02.

Other gainers were AG Leventis Nigeria Plc, UAC Property Development Company Plc, United Bank for Africa Plc, Tiger Branded Consumer Goods Plc, Custodian and Allied Plc, AxaMansard Insurance Plc, Fidelity Bank Plc, Zenith Bank Plc, Transnational Corporation of Nigeria Plc, NPF Microfinance Bank Plc, Guinness Nigeria Plc, Lafarge Africa Plc and United Capital Plc.

An aggregate of 10 stocks plunged in their values led by Trans-national Express Plc, NEN Insurance Company Nigeria Plc, Unity Bank Plc, Caverton Offshore Support GRP Plc and Honeywell Flour Mill Plc, which were the top five losers.

Other losers were DN Meyer Nigeria Plc, Vitafoam Nigeria Plc, FCMB Group Plc, Diamond Bank Plc and Cadbury Nigeria Plc.

The share price of Trans-national Express depreciated by N0.14 (8.92 per cent) to close at N1.43 from N1.57, while that of NEM Insurance dropped to N0.99 from N1.04, losing N0.05 (4.81 per cent).

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