BY BAMIDELE FAMOOFO
Paring some prior session losses, Nigerian equities bounced back today as the All-Share Index surged 1.47 percent, its largest single-day gain since 15 July, to settle at 50,075.47 points.
Recovery in Dangote Cement Plc (+9.96%) drove the market’s strong rebound. As a result, the year-to-date (YTD) return rose to 17.23 percent, while the market capitalisation gained N390.91billion to close at N27.01trillionn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 30.14 percent.
A total of 279.22 million units of shares valued at N2.08 billion were exchanged in 3,576 deals. JAIZ Bank Plc gained 3.45 percent to lead the volume chart with 115.13million units traded while FBNH, with no movement in price, led the value chart in deals worth N431.50 million.
Market breadth closed negative at a 1.90-to-1 ratio with advancing issues outnumbering declining ones. DANGCEM (+9.96%) led eighteen (18) others on the leader’s log while WAPCO (-8.84%) topped nine (9) others on the laggard’s table.
