NGX Rebounds as Investors See ₦178 Billion Gains – Market Recovers Strongly

NGX Rebounds as Investors See ₦178 Billion Gains – Market Recovers Strongly, Investors’ renewed interest in Guaranty Trust Holding Company(GTCO), FBN Holdings, Access Corporation, Nestle, Transnational Corporation, and Oando Plc, among other advanced equities drove the market up.

The market capitalisation, having opened at ₦55.576 trillion, added ₦178 billion or 0.32% to close at ₦55.754 trillion.

The All-Share Index also rose by 0.32% or 310 points to settle at 97,025.17 points, against 96,715.04 points recorded on Wednesday.

Consequently, the Year-To-Date (YTD) return rose by 29.76%.

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Market breadth also closed positive with 27 gainers and 22 losers on the floor of the Exchange.

On the gainers’ chart, FBN Holdings and Caverton led by 10% each to close at ₦26.40 and ₦2.31 per share respectively.

Flour Mill trailed closely by 9.99% to close at ₦49.55, RT Briscoe gained 9.93% to close at ₦3.32, while Nestle advanced by 9.88% to close at N890 per share.

On the losers’ chart, Daar Communications led by 8.86% to close at 72k, Eterna Plc followed by 8.14% to close at ₦32.15 per share.

Universal Insurance lost 7.69% to close at 36k, Sovereign Trust Insurance declined by 5.97% to close at 63k and International Breweries shed 5.32% to close at ₦4.45 per share.

Analysis of the market activities showed that trade turnover settled lower relative to the previous session, with the value of transactions down by 9.44%.

390.55 million shares valued at ₦7.97 billion were exchanged in 9,615 deals, compared to 600.04 million shares valued at ₦8.81 billion in 9,546 deals traded in the previous session.

Meanwhile, Access Corporation led the activity chart in volume and value with 80.05 million shares traded in deals worth ₦1.48 billion.