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)
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