Daily Trust

Equities market rebound with N3.4bn gain

- From Sunday Michael Ogwu, Lagos

The Nigerian stock market recorded its first gain of the week as price appreciati­on in Nigerian Breweries (+1.0 per cent), Stanbic (+3.5%) and Internatio­nal Brewery (+9.6%) drove a 2bps increase in the benchmark index to 28,344.04 points.

As a result, market capitalisa­tion improved to 14.8 trillion as investors gained 3.4 billion while year to date return improved to 5.6%. Activity level was mixed as volume traded rose 45.1% to 535.8m units while value traded fell 0.8% to 5.0bn.

The most traded stocks by volume were Regalins (245.8m units), Guaranty (100.3m units) and UBA (32.9m units) while Guaranty (3.0bn), Stanbic (526.8m) and Zenith (295.3m) led by value.

Performanc­e across sectors was mixed albeit positively skewed as 3 of 6 indices under review closed in the green.

Investor sentiment as measured by market breadth improved to 1.2x from the 0.6x recorded previously as 18 stocks gained against the 15 that declined.

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