On Thursday, the Nigerian stock market rebounded with a 0.23 percent increase in equity indicators. Key contributions came from stocks like Transnational Corporation and Guinness, leading to an overall market capitalization rise of N215 billion. The trading volume was notable, with substantial shares exchanged despite some stocks recording losses.
On Thursday, the Nigerian stock market exhibited a rebound with equity market indicators appreciating by 0.23 percent, largely due to gains in several medium- and large-cap stocks. The Nigerian Exchange Ltd. (NGX) saw its market capitalization increase by N215 billion, or 0.32 percent, rising from N66.653 trillion to N66.868 trillion. Moreover, the All-Share Index advanced by 0.32 percent, equivalent to 344 points, closing at 106,780.72 from the previous session’s 106,436.48.
The positive momentum in the market was fueled by price increases in notable stocks such as Transnational Corporation, Guinness, and Dangote Sugar. Overall, the market maintained a favorable breadth with 36 gainers vs. 15 losers. Transnational Corporation topped the gainers’ list with a 9.98 percent increase, closing at N51.80 per share, followed closely by SCOA Nigeria, which rose by 9.88 percent to N3.78. Africa Prudential and Tantalizers also noted significant gains of 9.87 percent and 9.52 percent, respectively.
On the downside, Sunu Assurance led among the losers with a 10 percent decline, closing at N4.77. MRS Nigeria Ltd. and Red Star Express also suffered losses of 10 percent, closing at N166.50 and N5.94, respectively. Additional notable declines included Lasaco Assurance, which fell by 7.99 percent, and UPDC Real Estate Investment Trust that decreased by 6.76 percent.
The trading volume recorded was substantial, with a total of 375.73 million shares valued at N10.185 billion exchanged across 11,447 transactions. This was a decrease from the previous day’s volume of 389.57 million shares worth N11.309 billion. Guaranty Trust Holding Company emerged as the most actively traded stock, with 49.9 million shares valued at N2.91 billion. Access Corporation and Zenith Bank followed, with trades valued at N1.03 billion and N1.72 billion, respectively.
In summary, the Nigerian stock market showed a significant recovery on Thursday, marked by a 0.23 percent increase across major indicators. With key stocks driving this upward trend and a healthy transaction volume, the market demonstrated resilience despite some losses. The performance underscores the dynamic nature of the equity market, characterized by both growth opportunities and risks for investors.
Original Source: www.premiumtimesng.com
