Stock Market Recovers N88b

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The All-Share Index (ASI) of the Nigeria Exchange on Wednesday gained 161.53 basis points or 0.31 percent to settle at 52,580.86 compared to 52, 419.33 on Tuesday.

Sustained interests in Zenith Bank, Guaranty Trust Holding Company (GTCO), and FirstBank of Nigeria Holdings (FBNH) were the drivers of the market-positive territory.

Consequently, the year-to-date (YTD) return rose to 2.59 percent.

MRS recorded the highest price gain of 9.93 percent to close at N37.10, per share.

Nigerian Breweries followed with a gain of 9.63 percent to close at N38.70, while Cornerstone Insurance rose by 9.47 percent to close at 81k, per share.

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FTNCocoa Processors went up by 8.82 percent to close at N37k  while Royal Exchange appreciated by 8.33 percent to close at 52k, per share.

On the other hand, Consolidated Hallmark Insurance led the losers’ chart by 7.69 percent to close at 60k, per share.

May & Baker followed with a decline of 6.74 percent to close at N4.15, while Sovereign Trust Insurance declined by 6.52 percent to close at 43k, per share.

Transnational Corporation (Transcorp) depreciated by 5.23 percent to close at N2.90, while Caverton Offshore Support Group declined by 4.76 percent to close at N1, per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 16.24 percent.

A total of 680.80 million shares valued at N7.89 billion were exchanged in 6,666 deals.

Fidelity Bank led the volume chart with 254.05 million units traded, while GTCO led the value chart in deals worth N1.57 billion.

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