Aradel, Stanbic, others drive stock market rebound by 0.57%

BUSINESS DAY NG

Nigeria’s equities market failed to stay on the previous day’s negative lane as investors interest in Aradel Holdings, Stanbic IBTC Holdings and other major gainers pushed the market back into the green zone on Wednesday. The market rose by 0.57 percent or N364billion at the close of trading. The market’s return year-to-date (YtD) is in positive region of +1.58 percent. This week, the market has risen by 0.92 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and equities Market Capitalisation increased from preceding day’s lows of 103,958.75 points and N64.156trillion respectively to 104,549.74 points and N N64.520trillion.

Aradel moved up most, from N540 to N594, adding N54 or 10 percent. Chellaram increased from N4.91 to N5.40, adding 49kobo or 9.98 percent. Stanbic IBTC rose from N65 to N71.45, adding N6.45 or 9.92 percent, while University Press increased from N4.67 to N5.12, up by 45kobo or 9.64 percent.

Universal Insurance, Fidelity Bank, FCMB Group, Japaul Gold and Veritas Kapital were actively traded stocks as investors in 16,256 deals exchanged 421,617,585 shares worth N14.997 billion…