Nigerian equities market on Wednesday rebounded with N133 billion after two days of consecutive downward trend.
Specifically, the market capitalisation which opened at N13.342 trillion inched N133 billion or one per cent to close at N13.457 trillion.
Also, the All-Share Index surged 274.57 points or one per cent to close at 27,681.61 against 27,407.04 achieved on Tuesday.
The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Stanbic IBTC Holdings, Guaranty Trust Bank, MTN Nigeria, Ecobank Transnational Inc. (ETI) and Lafarge Africa.
Analysts at Afrinvest Limited said that “ in the absence of any major stimulus, we expect a bearish performance for the rest of the week.
“Nonetheless, we see opportunities for bargain hunting in stocks with sound fundamentals,” they said.
Market breadth closed positive with 24 gainers against 13 losers.
Cutix and ETI recorded the highest price gain of 10 per cent, each to close at N1.54 and N8.80 per share, respectively.
University Press followed with a gain 9.52 per cent to close at N1.15, while Wapic Insurance appreciated by 8.82 per cent to close at 37k.
Associated Bus Company appreciated by 8.33 per cent to close at 39k per share.
On the other hand, Champion Breweries led the losers’ chart by 8.80 per cent, to close at N1.14 per share.
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RT Briscoe followed with a loss of 6.90 per cent to close at 27k, while Lasaco Assurance lost 6.67 per cent to close at 28k per share.
AIICO Insurance lost 5.88 per cent to close at 64k, while Courteville Business Solutions shed 4.76 per cent to close at 20k per share.
Also, the volume of shares traded rose by 91.64 per cent to 379.51 million shares worth N5.35 billion achieved in 3,923 deals.
This was in contrast with a turnover of 198.03 million shares valued at N2.89 billion exchanged in 3,830 deals on Tuesday.
Guaranty Trust Bank topped the activity chart with 98.42 million shares worth N2.83 billion.
Access Bank came second with 40.73 million shares worth N314.47 million, while FBN Holdings traded 40.08 million shares valued at N216.63 million.
FCMB Group sold 20.05 million shares worth N33.87 million, while Sterling Bank accounted for 17.58 million shares valued at N38.81 million.
![Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-450x300.jpg "Odiong: US-based Nigerian Catholic priest convicted over sexual assault")
