NSE market indices rebounds

The market capitalisation of the Nigerian Stock Exchange (NSE) on Tuesday rebounded by N20 billion due to moderate gains posted by some blue chips. Market capitalisation, which opened at N8.518 trillion inched N20 billion or 0.23 per cent to close at N8.538 trillion. Similarly, the All-Share Index rose by 58.76 points or 0.24 per cent to close at 24,823.86 compared with 24,765.10 achieved on Monday.

The upsurge was mostly boosted by capital appreciation recorded by FBN Holdings, Zenith Bank, Nigerian Breweries and GT Bank. A breakdown of the price movement chart indicated that Ecobank Transnational led the gainers’ table, growing by 50k to close at N15.20 per share. Nigerian Breweries followed with a gain of 44k to close at N106.53 and Oando gained 18k to close at N4.55 per share.

Dangote Sugar improved by 16k to close at N5.98, while NASCON increased by 15k to close at N8.10 per share. Conversely, Guinness topped the laggards’ chart, dropping by N2 to close at N95 per share. Stanbic IBTC trailed with a loss of 54k to close at N13.76, while Berger Paint shed 46k to close at N8.84 per share. Air Services depreciated by 8k to close at N1.64 and Dangote Cement shed 4k to close at N161 per share.

Also, the volume of shares traded closed higher with an exchange of 212.15 million shares valued at N1.50 billion transacted in 3,240 deals. This was in contrast with 144.68 million shares worth N766.02 million traded in 2,729 deals on Monday. Access Bank drove the turnover volume with a total of 54.47 million shares valued at N212.38 million.

It was trailed by FBN Holdings having accounted for 31.57 million shares worth N106.99 million and Zenith Bank traded 24.81 million shares valued at N502.03 million.

Investors bought and sold 17.17 million shares of United Bank for Africa worth N58.27 million, while FCMB Group exchanged 13.71 million shares valued at N13.84 million.