Stock market rebounds by N102bn

The bulls returned on the Nigerian stock market on Tuesday with investors’ net worth appreciating by N102 billion on bargain hunting.
The bullish performance was due to investors’ buy interest in industrial goods, consumer goods and oil & gas sector stocks.
Specifically, the market capitalisation rose by N102 billion to close at N20.266 trillion from N20.164 trillion recorded on Monday.
Also, the All-Share Index increased by 195.30 points or 0.50 per cent to close at 38,881.70 against 38,686.40 recorded on Monday.
The market upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; Okomu Oil, Dangote Cement, Flour Mills, Dangote Sugar and Unilever.
Okomu Oil dominated the gainers’ chart in percentage terms with 10 per cent to close at N106.15 per share.
Learn Africa followed with nine per cent to close at N1.09, while Champion Breweries rose by 4.71 per cent to close at N2 per share.
Unilever inched higher by 3.86 per cent to close at N12.10, while Cornerstone Insurance appreciated by 3.57 per cent to close at 58k per share……..TO CONTINUE READING CLICK ON