Business Headline News Nigeria

NGX rebounds as investors gain N2bn

The exchange market activities shows that trade turnover strengthened compared to previous session, as the volume and value of a total of 1.82bn units of shares valued at N5.02bn were exchanged in 4,669 deals on the NGX.

The All-Share Index also appreciated by 11.54 base points to 51, 138.92, pushing the year-to-date returns marginally to 0.22 per cent at the end of trading.

Also, investors’ sentiment as measured by market breadth improved leading to 21 gainers as against 21 decliners.

Indigenous conglomerate, Transcorp, led the volume and value chart with 1.60bn units traded in deals worth N3.09bn.

Performance across indices was largely bearish as the insurance, banking and industrial goods indices declined by 1.43 per cent, 0.50 per cent and 0.01 per cent respectively, on the back of sell-offs in Linkage Assurance (-8.33 per cent), Zenith Bank (-0.91 per cent) and Wapco (-0.21 per cent).

Writing by Julian Osamoto