Nigeria’s equity market rebound with 1.73% gain as investors renew interest
By Samuel Bankole
Nigeria’s equity market rebound on Monday with all share index gaining 1.73 percent as investors renewed buying interest in the stock of cement and telecoms sector of the local bourse.
The main index increase to 34,843.44 points from 34,250.74 it closed on Friday as share in Dangote Cement, which accounts for a third of the market capitalisation gained 2.7 percent at the end of trading.
Also, buying interest in Airtel Africa and Lafarge Africa also drove the shares of the two companies up by 10 percent and 2.2 percent respectively.
The market capitalisation of equities listed on the NSE also increased to N18.211 trillion from N17.902 trillion at the close of the market on Friday.
The total volume traded closed with an exchange of 208.095 million units valued at N3.70 billion traded in 4,154 deals. The market breadth was positive with 26 gainers as against 14 losers.
The NSE 30 Index increased by 0.48 percent to close at 1,426.31 points as against 1,419.46 points on the last trading day.
The most traded stocks by volume were Zenith Bank with 38.6 million units, Guaranty Trust Bank 19.2 million units and Access Bank with 16.1 million units while Zenith Bank N875.7 million, Airtel Africa N814.7 million and Guaranty Trust Bank N632.2 million led by value.
By the performance of the market on Monday, the ASI has widened its year-to-date gains to 29.8 percent.