Nigeria Stock index rebounds by 0.39%, as Forte Oil, Betaglass, Honeywell lead gainers

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The Nigerian Stock Exchange (NSE) All Share Index (ASI) halted a three day losing streak on Wednesday by 0.39 percent rebound due to moderate gains posted by certain blue chip companies.

The ASI which started the day at 25,032.17 points added 98.09 points to close at 25,130.26 points.

In the same vein, market capitalisation appreciated 0.39 percent or N33.9 billion to close at N8.697 trillion compared with Tuesday’s closing figure of N8.663 trillion.

The day’s gains were attributed to capital appreciation recorded in Forte Oil, Nigerian Breweries as well as Dangote Cement.

The price movement chart showed that Forte Oil, led the gainers’ table when it added N10.23 percent to close at N62.50 per share, followed by Betaglass which appreciated 4.98 percent to close  at N115.88 per share, Honeywell Flourmills gained 4.76 percent to close at N1.10 per share. UCAP increased 4.23 percent to close at N3.70 per share, while Nigerian Breweries grew 4.15 percent to close at N117.50 per share, among others.

Airservice led the decliners’ table with a loss of 4.88 percent to close at N2.73 per share, followed by Guinness, which shed 4.81 percent to close at N60.92 per share, Continental Reinsurance depreciated by 4.55 percent to close at N1.05 per share, Fidson dropped 3.81 percent to close at N1.01 per share, while Africa Prudential Registrars went down by 3.17 percent to close at N3.05 per share, among others.

Zenith Bank emerged the most traded equity on Wednesday with an exchange of 48.5 million shares worth N727.6 million.

It was trailed by Sterling Bank having accounted for 25.99 million shares valued at N18.2 million. Guaranty Trust Bank recorded the sale of 20.04 million shares worth N477.1 million; Access Bank exchanged 11.5 million shares valued at N76.02 million while United Capital traded 8.5 million shares worth N31.2 million.

Overall, investors in 4,216 deals traded a total of 161.9 million shares valued at N1.8 billion compared to 144.9 million shares valued at N1.9 billion and traded in 2,868 deals on Tuesday.

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