Trading on the Nigerian Exchange Ltd (NGX) experienced a rebound on Thursday, ending its recent losing streak as investors gained N1.575 trillion in market value.
According to the capital market analysis on Thursday’s trading, the positive performance was driven by renewed buying interests in banking, consumer goods and insurance stocks, which lifted the overall market sentiment.
The Market capitalisation rose from N158.318 trillion to N159.893 trillion, representing a 0.98 per cent increase, while the All-Share Index (ASI) advanced by 2,413.03 points or 0.98 per cent, moving from 245,418.37 to 247,831.40.
It noted that while the market’s Year-to-Date (YTD) return strengthened to 59.26 per cent, the market breadth closed positively as 36 gainers outperformed 27 losers.
Guinness Nigeria and Zichis Agro Allied Industries led the gainers’ chart by 10 per cent each, closing at N365.20 and N26.95 per share respectively.
Access Corporation grew by 9.98 per cent, ending the session at N29.20, First Holding Company climbed by 9.91 per cent, finishing at N120.90 and UPDCreit increased by 9.77 per cent, settling at N14.05 per share.
On the other hand, Mecure Industries led the losers’ chart by 9.96 per cent, finishing at N62.40, FTN Cocoa Processors followed by 9.16 per cent, closing at N8.63 and Omatek Ventures dropped by 7.89 per cent, settling at N1.75 per share.
Similarly, Africa Prudential dipped by 4.44 per cent, closing at N12.90, while Cornerstone Insurance shed by 4.35 per cent, ending the session at N5.50 per share.
However, market activity weakened during the session, as total trading volume declined by 37.54 per cent to 782.35 million shares, valued at N56.30 billion across 46,273 transactions.
First Holding Company emerged as the most traded stock by both volume and value, with 106.40 million shares exchanged, worth N12.49 billion.
The stock accounted for 13.60 per cent of total market volume and 22.18 per cent of the day’s trading value.
GIK/APA