Investors gain N239 billion as stock market rebounds
The Nigerian stock market rebounded on Thursday, gaining N239 billion as renewed buying interest in equities lifted investors’ sentiment.
Market capitalisation rose 0.15 per cent to N159.153 trillion, compared with N158.914 trillion recorded at Wednesday’s close.
Similarly, the All-Share Index gained 369.05 points, or 0.15 per cent, to close at 246,388.22 points.
The recovery followed increased demand for Seplat Energy, UPDCREIT, Learn Africa, Regency Alliance Insurance, Jaiz Bank and 17 other equities.
The market’s positive performance was also supported by FTSE Russell’s inclusion of 31 Nigerian companies in the FTSE Frontier Index Series.
The development strengthened investor confidence and contributed to the market’s return to positive territory after its previous session’s performance.
Despite the overall gains, market breadth remained negative, with 34 equities recording losses compared with 22 gainers.
FG152028S1 led the losers’ chart, declining 19.50 per cent to close at N80.50 per unit.
RT Briscoe followed with a 10 per cent decline, settling at N9.90, while Critical Minerals Financing Corp fell 9.86 per cent to N2.56.
On the gainers’ chart, Seplat Energy led with a 10 per cent increase, closing at N13,552.60 per share.
UPDCREIT followed, gaining 9.88 per cent to finish at N13.90, while Learn Africa rose 9.49 per cent to N8.65 per share.
Regency Alliance Insurance advanced 4.76 per cent to close at 88k, while Jaiz Bank gained 4.22 per cent to N8.65.
The equities market also recorded stronger trading activity, with total volume rising 1.68 per cent to 434.02 million shares.
The transactions were valued at N29.30 billion and executed across 42,303 deals during the session.
United Bank for Africa dominated trading activity, accounting for 113.26 million shares valued at N5.23 billion.
The bank’s transactions represented 26.10 per cent of the day’s total volume and 17.84 per cent of the total value traded.
Overall, the market’s modest recovery reflected renewed demand for selected equities despite continued selling pressure across several counters.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
States
Independence: NBA urges Nigerians to expect better future
The NBA said that ordinary Nigerians should be deriving benefit from the subsidy removal rather than hardship.
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Heading 4
Longest-serving Republican speaker Dennis Hastert, soiled by allegations of molesting high school athletes, dies at 84
The deceased, who was speaker from 1999 until 2007, was sentenced in 2016 to more than a year behind bars.
Anti-Corruption
Witness reveals how funds were moved to private accounts in ex-Taraba governor’s trial
The judge adjourned the matter till October 6, 2026, for continuation of the evidence of PW3.
Education
JAMB moves to adopt UTME centre in Canada for 2027
The board said the centre would enable eligible Nigerians living in Canada to sit for the UTME without travelling to Nigeria.
States
No survivors yet in Ondo military helicopter crash, says Gov. Aiyedatiwa
Mr Aiyedatiwa said he got the information about the crash at about 10:30 a.m. on Monday.
Hot news Home top
I don’t want migrants from other countries to turn UK into nation of ‘little ghettos’: Kemi Badenoch
The Tory leader argued that immigrants must respect the culture and values of the UK.
States
Religious leaders laud Governor Sani’s inclusive governance
The religious leaders pointed out that Kaduna State now enjoys relative peace and harmony.
