UBA, Access Bank lead trading as Nigeria’s stock market rebounds

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The Nigerian stock market reported a slight growth on Wednesday after rebounding from two consecutive trading losses.

This followed the rise in equity capitalization by 0.04 percent at the close of the day’s trading.

The equity capitalisation rose from N25.51 trillion posted on Tuesday to N25.52 trillion, handing investors a N10 billion gain in the process. The All-Share Index was up by 23.6 basis points to close at 47,364.46 compared to 47,340.86 reported the previous day.

Investors traded 145.83 million shares valued at N7.91 billion in 4,113 deals on Wednesday.

This fell short of the 183.25 million shares worth N2.47 billion that exchanged hands in 3,779 deals on Tuesday.

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NPF Microfinance led the gainers’ chart after posting a surplus of N0.21kobo to close at N2.31kobo from N2.10kobo per share. PZ gained N0.70kobo to rise from N7.15kobo to N7.85kobo per share.

AIICO’s share was up by 6.15 percent to move from N0.65kobo to N0.69kobo per share.

Unity Bank’s share appreciated by 4.17 percent to move from N0.48kobo to N0.50kobo per share.

NGX Group gained N0.90kobo to end trading with N23.30kobo from N22.40kobo per share. Royal Exchange topped the losers chart, shedding N0.11kobo to drop from N1.13kobo to N1.02 per share.

Livestock’s share dropped by N0.17kobo to end trading at N1.58kobo from N1.75kobo per share. IMGN’s share depreciated from N9.50kobo to N8.60kobo per share after losing N0.90kobo during trading.

Chams lost 8.70 percent to end trading with N0.21kobo from N0.23kobo per share. Redstar Express completed the list after shedding N0.15kobo from its market price to drop from N3.20kobo to N3.05 per share.

UBA led the trading equities with 14.75 million shares valued at N125.88 million.

Access Bank followed with 10.28 million shares valued at N107.05 million. Zenith Bank traded 10.03 million shares worth N266.09 million.

GTCO sold 9.12 million shares worth N239.22 million, while Ecobank traded 9.08 million valued at N108.73 million.