The Nigerian Exchange Ltd. (NGX) on Tuesday rebounded, reversing two days of bearish trends, with a gain of N315 billion. The NGX market capitalisation rose by N315 billion, representing 0.46%, closing at N68.357 trillion, up from N68.042 trillion on Monday.
The All-Share Index (ASI) increased by 501.14 points or 0.46%, closing at 108,762.61, compared to 108,261.47 in the previous session. The uptrend was attributed to bargain-hunting in some select stocks. The market breadth closed positive with 41 gainers and 24 losers.
Chellaram rose by 10 per cent to close at N11.44 per share, Oando Plc soared by 10 per cent to settle at N49.50 per share, Transcorp gained by 9.99 per cent to end the session at N46.25, Beta Glass grew by 9.96 per cent to close at N194.30 per share, Caverton Offshore Support Group increased by 9.85 per cent to finish at N3.68 per share
Haldane McCall Plc fell by 9.85 per cent to settle at N4.21, Academy dropped by 7.33 per cent to close at N4.30 per share, UPDC Real Estate Investment decreased by 6.25 per cei to end the session at N3.00, ABC Transport shed by 6.13 per cent to close at N2.91 per share, NPF Microfinance Bank lost by 5.14 per cent to finish at N2.03 per share
A total of 498.48 million shares worth N10.781 billion were exchanged across 14,916 transactions.
Transactions in the shares of Tantalizer topped the activity chart with 57.80 million shares valued at N131.32 million.
Mr Aruna Kebira, Managing Director of Globalview Capital Ltd., attributed the upward trend to investors taking profits in line with their income objectives.
He said, “The market witnessed a culmination of various cash out leading to profit spree.”
