The Stock market rebounds: Makes 2.88% Gain on Wednesday
- On Wednesday November 12th, Nigerian stock market rebounds as the NGX All Share Index (ASI) and market capitalisation saw gains as they increased by 2.88% each to close at 145,403.83 points and N92.47trn respectively. This resulted in a year-to-date (YTD) return increase to 41.27% from 37.31% in the previous session. This rebound was driven by bargain hunting in bellwether stocks like ZENITHBANK (+10.00%), GTCO (+10.00%) and ACCESSCORP (+10.00%) overshadowing the selloffs in TRANSPOWER (-10.00%) and VITAFOAM (-10.00%).
- Market activity also closed in the green as the total volume and value transacted increased significantly by 22.94% and 72.77% separately. GTCO(+10.00%) led the volume chart with 104.78mn units traded, while ARADEL (+8.93%) led the value chart with N12.91bn worth of trades.
- Market breadth closed positive at 5.50x, indicating more gainers than losers. GTCO (+10.00%) led the gainers, while TRANSPOWER (-10.00%) led the losers.
NASD Summary
- The NASD market also witnessed a rebound as the Securities Index (NSI) and market capitalisation increased by 1.11% each, closing at 3,665.36 points and N2.19trn, respectively.
- The market activity also increased, with transaction volume and value rising by 87,326.77% and 155,602.50% respectively. No gainers or losers were recorded in the market.
