Equities market rebounds slightly, up 0.04%

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Activity on the Nigerian Exchange Limited (NGX) was mixed on Wednesday, albeit with a bullish tilt as the benchmark index closed 0.04per cent higher to settle at 43,477.48 basis points.

Rebound in Dangote Cement that gained 0.59per cent as well as Tier-1 banking names Zenith Bank that added 0.25 per cent, Guaranty Trust Holding Company (GTCO) that rose by 0.29per cent and United Bank for Africa (UBA) that added 1.43per cent were the main drivers of the market’s overall performance.

Consequently, the equities market in its year-to-date (YTD) return rose to 1.78per cent while the market capitalisation rose by N9.47billion to close at N23.69trillion.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 27.62per cent

A total of 133.41million shares valued at N1.81billionn were exchanged in 3,078 deals.

FBN Holdings led the volume chart with 30.38million units traded while Dangote Cement added 0.59per cent to lead the value chart in deals worth N318.11million.

Market breadth closed positive at a 1.10-to-1 ratio with advancing issues outnumbering declining ones.

Unity Bank gained 9.09per cent to top 10 others on the gainer’s table, while Honeywell dropped by 9.09per cent to lead nine others on the laggard’s log.

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