Trading Rebounds As NSE Index Recovers 0.27% | Independent Newspapers Limited
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Trading Rebounds As NSE Index Recovers 0.27%

Posted: May 14, 2015 at 5:30 am   /   by   /   comments (0)

By Bamidele Ogunwusi



The Equities’ market made a turn-around to close northward on Wednesday after trading negative for seven consecutive days as key market indicators, the All-Share Index and Market Capitalisation, appreciated by 0.27 percent each.

The All Share Index went appreciated by 92.81 basis points or 0.27 percent to close at 34,208.30 points as against 34,115.49 points recorded on Tuesday, while market capitalisation grabbed N31.519 billion to close at N11.617 trillion compared with N11.585 trillion recorded the previous trading day.

The rebound was attributed to rally in highly capitalised banking stocks like Zenith Bank  which improved by 2.5 percent, Ecobank Transnational Incorporated  which gained 2.3 percent, Guaranty Trust Bank which grabbed 2 percent, FBN Holdings which grew by 0.6 percent and other large-cap counters like Oando, 0.6 percent and  Nigerian Breweries, 0.2 percent.

At the close of trading on Wednesday, investors bought and sold a total of 350.712 million shares valued at N3.352 billion in 4,146 transactions compared to 525.930 million shares valued at N3.289 billion in 4,364 transactions recorded on Tuesday with the financial services sector accounting for a total of 290.381 million shares valued at N1.931 billion in 2,147 deals as against 471.152 million shares valued at N2.497 billion in 2,408 deals recorded the previous day.

However, the banking sub-sector the most active when investors bought and sold a total of 179.208 million shares valued at N1.134 billion in 1,262 transactions as against 427.020 million shares valued at N2.344 billion in 1,593 deals recorded on Tuesday.