Equities market rebounds, gains N1.58 trillion
Trading activities on the Nigerian equities market rebounded on Thursday, ending its recent losing streak as investors gained N1.575 trillion in market value.
The positive performance was driven by renewed buying interest in banking, consumer goods and insurance stocks, which lifted overall market sentiment.
Market capitalisation rose from N158.318 trillion to N159.893 trillion, representing a 0.98 per cent increase.
Similarly, the All-Share Index (ASI) advanced by 2,413.03 points or 0.98 per cent, moving from 245,418.37 to 247,831.40.
While the market’s year-to-date (YTD) return strengthened to 59.26 per cent, market breadth closed positively, with 36 gainers outperforming 27 losers.
Guinness Nigeria and Zichis Agro Allied Industries led the gainers’ chart by 10 per cent each, closing at N365.20 and N26.95 per share, respectively.
Also, Access Corporation grew by 9.98 per cent, ending the session at N29.20; First Holding Company climbed by 9.91 per cent, finishing at N120.90; and UPDCreit increased by 9.77 per cent, settling at N14.05 per share.
On the other hand, Mecure Industries led the losers’ chart by 9.96 per cent, finishing at N62.40; FTN Cocoa Processors followed by 9.16 per cent, closing at N8.63, and Omatek Ventures dropped by 7.89 per cent, settling at N1.75 per share.
Similarly, Africa Prudential dipped by 4.44 per cent, closing at N12.90, while Cornerstone Insurance shed 4.35 per cent, ending the session at N5.50 per share.
However, market activity weakened during the session, as total trading volume declined by 37.54 per cent to 782.35 million shares, valued at N56.30 billion across 46,273 transactions.
First Holding Company emerged as the most traded stock by both volume and value, with 106.40 million shares exchanged, worth N12.49 billion.
The stock accounted for 13.60 per cent of total market volume and 22.18 per cent of the day’s trading value.
(NAN)
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