Bulls return as equity market gains N165bn

Domestic equity market Wednesday rebounded, gaining N165 billion as gains recorded by BuaCement, FBNHoldings, UBA, Juli Pharmaceutical lifted activities in a positive note.

Market capitalisation of listed equities specifically gained  0.30 per cent to N55.463 trillion from N55.298 trillion reported the previous day.

The NGX All Share Index also appreciated by 301.71 basis points to101362.38 points from 101060.67 points recorded on Tuesday.

The NGX trading result showed that FBNHoldings led gainers table with 9.96 per cent to close at N28.70 per share, Juli Pharmaceutical followed with a gain of 9.60 per cent to close at N1.94 per unit, Mutual Benefits added 9.38 per cent to close at N0.70 per share, Regal Insurance up by 7.32 per cent to close at N0.44 per share, BuaCement gained 4.93 per cent to N150.00  per share.

Conversely,Okomuoil topped losers chart, dropping by 10 per cent to close at N2.43 per unit, Morison industry trailed with a loss of 9.69 per cent to close at N2.05 per share, Sterling Bank fell by 9.58 per cent to close at N4.34 per cent, Japaul Gold sheds by 9.34 per cent to close at N2.33 per unit, Caverton Business Solutions dipped by 9.19 per cent to close at N1.68 per unit.

Volume of transactions increased by 46.563 million, representing 18.19 per cent as investors traded 302.739 million shares valued at N6.552 billion in 8611 deals against 256.256 million shares cost N6.628 billion in 8783 deals.