Stock market rebounds as index rises by 0.2 per cent

Transactions on the Nigerian Stock Exchange (NSE) rebounded yesterday, following price gains recorded by major highly capitalised stocks, causing the All-share index to increase marginally by 0.2 per cent.

Specifically, at the close of transactions yesterday, the All-Share Index rose by 69.86 points or 0.17 per cent to close at higher at 40,499.04 compared with 40,429.18 posted on Monday.

Also, the market capitalisation inched by N25 billion or 0.17 per cent to close at N14.628 trillion against N14.603 trillion recorded on Monday.An analysis of the price movement table indicated that Mobil led the gainers’ table with a gain of N8.50 kobo to close at N178.50 per share.

Dangote Cement came second with N3.00 kobo to close at N255, while International Breweries increased by N2.35 to close at N51.50 per share.Lafarge Africa increased by N1.40 kobo to close at N42.40, while Dangote Sugar appreciated by 55.00 kobo to close at N22 per share.

However, Total recorded the highest loss to lead the losers’ chart with N2.80 kobo to close at N233.80 per share. Unilever lost N1.90 kobo to close at N53.10 per share.

Forte Oil dipped N1.40 kobo to close at N38.60 per share. Zenith Bank dropped N55.00 kobo to close at N26.35 per share. GT Bank decreased by N50.00 kobo to close at N43 per share.

Sovereign Trust Insurance was the toast of investors with an exchange of 82.46 million shares valued at N16.53 million, followed by Zenith Bank with 43.98 million worth N1.16 billion, while Skye Bank accounted for 37.46 million shares valued at N24.26 million.

Flour Mills traded 32.23 million shares worth N1.19 billion, while Access Bank achieved a turnover of 30.04 million shares valued at N361.34 million.In all, investors bought and sold 388.28 million shares worth N4.21 billion transacted in 4,222 deals, representing an increase of 35.27 per cent.This was in contrast with 287.04 million shares valued at N4.95 billion traded in 4,285 deals on Monday.