Stock market rebounds with N96bn gain

Investors in the Nigerian Exchange Limited gained N96bn at the close of trading on Wednesday, thus reversing the N68bn loss recorded in the previous trading session.

Appreciations in the share value of International Energy Insurance, JohnHolt and Eunisell boosted the market capitalisation of the local bourse by N96bn to settle at N59.03tn.

Similarly, the benchmark index of the exchange, All Share Index rose by 0.16 percent to 97,418.83 points.

Sectoral performance was largely positive: the banking, consumer goods, and industrial sectors saw increases of 1.38 per cent, 0.38 percent, and 0.01 per cent, respectively, while the insurance sector declined by 0.58 percent.

Market sentiments remained positive resulting in 30 stocks advancing, while 19 declined.