Nigerian Equities Market Rebounds By 1.62% Profit

Nigeria’s equities market bounced back to positive territory at the close of business on Thursday with a 1.62% profit on its benchmark index.

The market capitalisation of listed equities at Nigerian Exchange Group Limited, NGX returned to the N35 trillion as investors gained N564 billion amid renewed bargain hunting and profit-taking activities.

Investors at the Exchange had witnessed a drop on market capitalisation in midweek transactions which closed at N34.918 trillion but Thursday deals appreciated by 1.62% to close at N35.483 trillion.

Similarly, the NGX All-Share Index appreciated by 1,037. 43 absolute points representing a 1.62% increase to close at 65,204.82 points compared to 64,167.39 points recorded on Wednesday.Stock Market Starts August Week 2 In Green

The day’s activity levels remained positive as the trading volume and value inched up by 51.74% and 119.49% to close at 361.2 million units and N5.74 billion respectively except deals which ended negative at 7.83% to close at 5,531.

The trading session closed positive with 23 gainers and 17 decliners.

Profit-taking activities engaged by investors saw the shares of CHELLARAM, SCOA and Dangote Cement gain 10%, 9.35% and 9.34% to close at N4.40k, N1.17k and N349.90k respectively.

On the flipside, shares of CAP, Academy Press and Dangote Sugar dropped by 10%, 9.36% and 6.63% to close at N19.80k, N2.13k and N32.40k respectively.