nigeria stock market news, mtn NSE listing
The Nigeria Stock Exchange in Lagos

The nation’s stock market on Monday witnessed a rebound as investors gained N7 billion on the back of price appreciations, Concise News reports.

The market, which recorded losses totalling N304bn last week, saw its capitalisation increase to N12.909tn from N12.902tn on Friday.

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The All Share Index rose by 0.07 per cent to 29,292.66 basis points, while the year-to-date loss eased to -6.8 per cent.

Volume traded declined by 27.5 per cent to 216.289 million units while value traded advanced by 24.1 per cent to N2.270bn.

The top traded stocks by volume were Wapic Insurance Plc (84.9 million units), FBN Holdings Plc (16.2 million units) and Zenith Bank Plc (14.7 million units) while MTN Nigeria Communications Plc (N1.1bn), Zenith Bank Plc (N282.3m) and Guaranty Trust Bank Plc (N275.9m) were the top traded stocks by value.

The top gainers were Flour Mills, Unity Bank, Red Star Express Plc, Wema Bank Plc and Wapic Insurance, with respective gains of 10 per cent, 9.68 per cent, 9.09 per cent, 8.20 per cent and 7.50 per cent.

However, Forte Oil Plc, GlaxoSmithKline Nigeria Plc, Total Nigeria Plc, Sovereign Insurance Plc and First City Monument Bank Plc led nine other losers at the Exchange.