Equity market rebound, gain N276bn

Trading activities on the floor of Nigerian Exchange (NGX) Monday closed northward, appreciating by N276 billion.

Specifically, market capitalisation of listed equities increased by 1.23 per cent to N22.130 trillion from N21.854 trillion reported on Friday.

The NSE All Share Index also appreciated by 588.15 basis points to 42411.12 points from 41882.97 points traded previously.

Investors exchanged 229.640 million shares valued at N3.289 billion in 4426 deals against 444.935 million shares cost N3.423 billion in 3594 deals.

An analysis of the investment showed that Meyer Paint led gainers table during the day, gaining 9.09 per cent to N0.36, Academy Press followed with a gain of 8.51 per cent to N0.51, FTNCocoa added 8.11 per cent to N0.40 kobo, Glaxosmith gained 7.08 per cent to N6.05, MTN Nigeria Communication added 7.05 per cent to close at N186.80.

On the contrary, NASCON topped losers chart during the day, dropping 6.70 per cent to N13.05, Cornerstone Insurance trailed with a loss of 6.00 per cent to N0.47, Wapic Insurance fell by 5.88 per cent to N0.48, Oando Plc dipped by 4.26 per cent to N4.72, Champions Breweries declined by 4.06 per cent to N2.60.

The report further showed that Unity Bank was the most active stock during the day, exchanging 48.316 million shares valued at N20.448, Universal Insurance followed with account of 21.100 million shares cost N42.200 million, FBNHoldings traded 19.888 million shares worth N235.292 million, UPDC REITS sold 16.925 million shares valued at N75.837 million while GTCO Plc exchanged 12.834 million shares cost N336.809 million.