Business and Economy

Nigerian stock market rebounds with 0.20% gain on Wednesday

The Nigerian stock market rebounded on Wednesday with a 0.20% gain to close at 53,603.80 points. As a result of this investors gained N57.49 billion as the market capitalization increased by same amount to close at N29.20 trillion while the year-to-date (YTD) return increased to 4.59%.

Trade turnover settled higher with 3,906 transactions totaling 236.07 million shares worth N3.26 billion completed. DANGCEM (+5.07%), together with other strong performers like ZENITHBANK (+2.80%), GTCO (+1.61%), and WAPCO (+1.98%), helped the overall index move into positive territory.

With 91.39 million units exchanged, TRANSCORP (+7.14%) dominated the volume chart, while ZENITHBANK (+2.80%) won the value chart with transactions totaling 696.21 million. On the leader’s log, OANDO (+9.84%) outperformed 18 other participants, while MAYBAKER (-8.70%) outperformed 10 other participants.

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