BrandBusiness

Nigerian Equity Market Rebounds with N53 Billion Gain

By Oyinkansayo Wole-Bodunde.

The Nigerian equity market experienced a rebound on Thursday, recovering from losses from the previous session with a gain of N53 billion.

It was driven by investor interest in prominent stocks, including Dangote Cement, FBN Holdings, Guaranty Trust Holding Company (GTCO) and Fidelity Bank, among others.

Due to this, the market capitalization increased by 0.09% to N62.310 trillion, up from N62.257 trillion at the opening. The All-Share Index (ASI) also advanced by 0.09%, gaining 87.11 points to close at 102,183.06, compared to 102,095.95 on Wednesday. This performance brought the Year-To-Date (YTD) return to 0.72%.

Despite the gains, the market breadth closed negative, with 35 gainers outnumbered by 26 losers. Livestock Feeds led the losers, shedding 60k to close at N5.40, followed by Eunisell, which lost N1.73 to close at N15.63 per share. Neimeth International Pharmaceutical and Regal Insurance both declined by 7k, closing at N3.12 and 68k per share, respectively, while Honeywell Flour shed 94k to close at N9.21 per share.

On the other hand, North Nigerian Flour Mill led the gainers, surging by N4.95 to close at N54.45, followed by Dangote Sugar, which gained N3.65 to close at N40.50 per share. John Holt rose by 83k to close at N9.30, while The Initiate Plc added 25k to close at N2.80, and Omatek increased by 8k to close at 90k per share.

Trading activity improved, with the value of transactions rising by 76.82%. A total of 472.16 million shares at N16.70 billion were traded in 12,336 deals, compared to 435.54 million shares at N9.44 billion traded in 12,098 deals in the last session. GTCO led the activity chart in both volume and value, with 65.05 million shares worth N3.77 billion traded.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button