Kayode Tokede
The inventory market part of the Nigerian Exchange Limited (NGX ASI) staged a marginal rebound yesterday, as renewed shopping for curiosity in Zenith Bank Plc, 18 others lifted the market capitalisation up by N29 billion.
The NGX All-Share Index by 0.02 per cent to shut at 254,289.35 factors, strengthening its year-to-date return to 63.41 per cent. Consequently, market capitalisation gained N29 billion to shut at N165.11 trillion.
However, market sentiment remained bearish, with 32 decliners outweighing 19 advancers. University Press led the gainers chart by 9.52 p.c to shut at N4.60, whereas Omatek Ventures adopted with a acquire of 8.59 p.c acquire to N1.39, per share.
International Breweries Plc rose 6.47 p.c to N9.05, whereas Royal Exchange and Guinea Insurance each gained 5.26 p.c to shut at N1.00 and 80 kobo respectively, per share.
On the flip aspect, Fortis Global Insurance led the laggards, shedding 10 p.c to shut at N1.53, per share. Vitafoam Nigeria adopted with a 9.99 p.c decline to shut at N141.50, whereas Abbey Bank misplaced 8.73 p.c to shut at N5.75, per share.
Caverton Offshore Support Group dropped 7.58 p.c to shut at N3.05 and Livestock Feeds declined by 6.51 p.c to shut at N13.65, per share.
Meanwhile, the full quantity traded gained marginally by 1.58 per cent to 525.439 million models, valued at N22.611 billion, and exchanged in 39,078 offers. Transactions in the shares of Zichis Agro Allied Industries led the exercise with 127.480 million shares price N2.167 billion. Access Holdings adopted with account of 42.594 million shares valued at N1.134 billion, whereas Chams Holding Company traded 25.415 million shares valued at N80.185 million.
VFD Group traded 23.241 million shares price N289.942 million, whereas International Energy Insurance traded 19.456 million shares price N33.642 million.
Looking forward, Cowry Assets Management Limited stated, “selective accumulation in fundamentally sound counters could sustain the modest recovery, although negative market breadth and lingering selling pressure may constrain further gains.”
