The Nigerian equities market resumed its bullish trend on Thursday, as investors gained N73 billion on renewed buying interest in selected stocks.
Academy Press gained 9.70 per cent to close at N7.35, while Omatek Ventures rose 9.35 per cent to end at N1.17.
The sell-offs affected stocks like Academy Press, Custodian Investment, Dangote Cement, Deap Capital Management, Oando, and 56 others.
A total turnover of 2.422 billion shares worth N76.618 billion in 126,591 deals was traded by investors this week.
Also, the All-Share Index was up by 353.82 points or 0.7 per cent to close at 51,222.34 compared to 50, 868.52 on Thursday.
Market breadth closed positive with advancing 16 stocks outnumbering 13 declining ones.
The upturn was impacted by gains recorded in large capitalised stocks, amongst which are MTN Nigeria, Airtel Africa and Seplat.
The loss was driven by price depreciation in FBN Holdings, Access Holdings and WAPCO.
The market capitalisation of listed equities decreased by N28 billion or 0.10 per cent to N27.685 trillion from N27,713 trillion recorded on Wednesday.
“The stock market closed positively, as bargain hunting was seen in all the major sectors,” according to analysts at GTI Research.
