The Nigerian stock market rebounded on Thursday, increasing by 0.23% due to price gains in various stocks, particularly Transnational Corporation and Guinness. The market capitalization rose by N215 billion to N66.868 trillion, while the All-Share Index increased by 344 points to 106,780.72. Trade activity consisted of 375.73 million shares worth N10.185 billion.
On Thursday, the Nigerian stock market experienced a rebound, with equity market indicators rising by 0.23%. This increase was attributed to price appreciation in certain medium and large-capitalized stocks. The Nigerian Exchange Ltd. (NGX) market capitalization saw a gain of N215 billion, or 0.32%, rising to N66.868 trillion from the previous day’s N66.653 trillion. Additionally, the All-Share Index increased by 0.32%, or 344 points, closing at 106,780.72, compared to 106,436.48 from the prior session.
Price gains in major stocks such as Transnational Corporation, Guinness, and Dangote Sugar significantly contributed to this positive trend. The market breadth was favorable, with 36 gainers compared to 15 losers. Notable gainers included Transnational Corporation, which surged by 9.98% to N51.80 per share, and SCOA Nigeria, which increased by 9.88% to N3.78 per share. Africa Prudential, Tantalizers, and Caverton Offshore Support Group also saw substantial increases of 9.87%, 9.52%, and 9.09%, respectively.
On the opposite end, Sunu Assurance, MRS Nigeria Ltd., and Red Star Express topped the losers’ chart, each declining by 10% to close at N4.77, N166.50, and N5.94 per share. Additional declines included Lasaco Assurance, losing 7.99% to N2.65, and UPDC Real Estate Investment Trust, down by 6.76% to N2.62 per share.
In terms of trading volume, 375.73 million shares valued at N10.185 billion were exchanged across 11,447 transactions. This was a slight decrease from the previous trading day, where 389.57 million shares worth N11.309 billion were traded over 11,423 transactions. Guaranty Trust Holding Company led trading activity with 49.9 million shares valued at N2.91 billion, followed closely by Access Corporation and Zenith Bank.
The Nigerian stock market rebounded on Thursday, reflecting a positive trend driven by major stock gains. Notable increases were reported in key companies, while trading volumes showed slight fluctuations compared to the previous day. The overall market sentiment remains optimistic as the current evaluations indicate a robust performance amid ongoing transactions.
Original Source: www.premiumtimesng.com
