Stock market rebounds, gain N58bn

Transactions on the floor of the Nigerian Stock Exchange (NSE) Tuesday sustained growth profile, appreciating by N58 billion.

Specifically, market capitalisation of listed equities increased by 0.49 per cent to N11.844 trillion from N11.786 trillion reported the previous day.

The NSE All Share Index also appreciated by 111.59 basis points to 22727.87 points from 22616.28 points traded on Monday.

Investors during the day traded 266.627 million shares worth N2.752 billion in 4259 deals against 108.120 million shares valued at N1.332 billion exchanged hands the previous day at 3354 deals.

Operators said that as lockdown is gradually being eased for economic activities to resume in many countries of the world, it is likely that it would lead to increase in demand of crude oil and support the recovery of the economy globally.

A review of the investment showed that Nestle Nigeria Plc led gainers table , growing by N10.20 kobo to close at N920.20 kobo, Guaranty Trust Bank followed with a gain of N1.00 to close at N21.00, Zenith Bank Plc added N0.65 kobo to close at N14.85 kobo, Dangote Sugar Refinery Plc gained N0.45 kobo to close at N12.45 kobo while FCMB group added N0.10 kobo to close at N1.70 kobo.

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