The Nigeria local bourse rebounds strongly following investors interest in bellwether stocks in reaction to the Dangote Cement Plc Tranche II buy-back and oil price increase.
As a result, the market index (All-Share Index) rose by 749.52 basis points, representing an upturn of 1.71 percent to close at 44,608.82.
While the Market Capitalization gained ₦403.83Bn, representing a growth of 1.71 percent to close at ₦24.03 trillion.
→ However, the market activities traded negatively as the Total Volume and Value traded further dropped by 9.58 percent and 43.53 percent, respectively.
266.33 million units valued at ₦3.82 billion were transacted in 4,502 Deals.
Meanwhile, TRANSCORP sustained the led as the most traded stocks in terms of volume, accounting for 33.42 percent of the total volume of trades, followed closely by FBNH (11.45%), JAIZBANK (5.33%), STERLNBANK (4.39%), and GTCO (3.69%) to complete the top five on the volume chart.
While, SEPLAT emerged the most traded stock in value terms, with 24.34 percent of the total value of trades on the exchange.
→ On the success chart, ACADEMY and JAIZBANK topped the gainers’ chart with price appreciation of 10.00 percent each, trailed by DANGCEM (6.18%), SEPLAT (2.99%), BUAFOODS (2.56%), MTNN (2.15%), UBA (1.23%), ETERNA (0.72%), NASCON (0.38%), ZENITHBANK (0.20%) and fourteen (14) others.
Conversely, fifteen (15) stocks declined in price, led by REGALINS with price depreciation of 8.70 percent to close at ₦0.42 as CHIPLC (-8.70%), NEIMETH (-3.23%), HONYFLOUR (-2.86%), UCAP (-1.79%), AFRIPRUD (-1.54%), ETI (-0.58%), NGXGROUP (-0.25%), and GTCO (-0.20%) also dipped in price.
Consequently, the market breadth closed positively, recording 24 gainers and 15 losers.
→ Furthermore, except for the Insurance sector that tanked by 0.49%, other sectors led by Industrial Sector (3.06%), Oil & Gas (1.37%), Banking (0.39%) and Consumer Goods (0.14%), respectively grew, compared to the last session.