Business and Economy

Stock market rebounds, gains 0.43% (N165.99 billion) 0n Tuesday

The Nigerian stock market bounced back from Monday losses to gain 0.43% as the All-share Index closed at 71,250.17 points. Consequently, market capitalization increased by ₦165.99bn to end at ₦38.99trn, and the year-to-date (YTD) return increased to 39.02%.

The market was kept positive by renewed demand for index heavyweight BUACEMENT (+4.70%), coupled with ZENITHBANK (+0.14%), and GTCO (+0.77%), which helped to offset losses in AIRTELAFRI (-2.06%), FCMB (-1.45%), and OANDO (-0.43%).

Trade turnover settled at a greater level than it did on Monday with a 56.53% increase in transaction value. 7,016 deals totaling 433.57m shares worth ₦11.11bn were transacted. With 61.71 million units traded, UACN (+4.92%) dominated the volume chart, while AIRTELAFRI (-2.06%) headed the value chart with trades totaling ₦2.12 billion. ABBEYBDS (-9.88%) led fourteen (14) people on the laggard’s log, while NSLTECH (+10.00%) topped thirty-eight (38) others on the leader’s table.

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