Equities market rebounds

Equities trading on the floor of the Nigerian Stock Exchange opened on a positive note on Wednesday after a two-day holiday to commemorate the end of the Muslim Ramadan.

The market capitalisation appreciated by N9 billion or 0.07 percent to close at N13.14 trillion from Friday’s close of N13.13 trillion .

In the same vein,the All share index increased by 0.07 percent or 16.48 basis points to close at 25,221.23 basis points after opening activities at 25,204.75 basis points.

Wednesday’s trading activities saw a total of 7,759 deals worth N5.59 billion transacted for a total of 581.60 million shares on the floor of the exchange.

At the end of the day’s transactions, 32 stocks gained while 11 depreciated.

Nigerian Breweries made a gain of N3.95 kobo per share to top the Gainers’ table after opening at N39.50k and closed at N43.45k.

Other top gainers include Dangote Cement which gained N3.30k to close at N137.30k per share while Stanbic IBTC had N3.25k gain to close at N35.80kobo per share.

On the flip side,Ardova came tops on the losers table with a loss of N1.60 kobo to close at N14.40 kobo per share.

Caverton lost N0.14 kobo to close at N2.47 kobo per share from an opening price of N2.61kobo while Nahco closed at N2.32 kobo from an opening price of N2.40 kobo to loose N0.8 kobo per share.

FBN Holdings had the biggest volume of trade on Wednesday as it exchanged 120,862 million shares worth N681,87 million in 643 deals followed by Zenith bank with 67,266 million unit of shares worth N1.19 billion in 803 deals and Guaranty had 62,688 million shares worth N1.54 billion exchanged in 630 deals.