By Seun Ibiyemi
The Nigerian stock market rebounded on Tuesday, gaining 0.40 per cent as investors added N516 billion, reversing losses recorded in the previous two trading sessions.
Renewed interest in stocks including Multiverse Mining, International Energy Insurance, CHAMS, MTN Nigeria, and PZ Cussons, among 15 other gainers, helped the market close in positive territory.
Market capitalisation rose from N128.693 trillion to N129.209 trillion, reflecting the N516 billion gain.
The All-Share Index advanced by 803.35 points, or 0.40 per cent, to close at 201,287.78, up from 200,484.43 recorded in the previous session. Year-to-date returns now stand at 29.35 per cent.
Despite the overall gain, market breadth was negative with 50 decliners against 20 gainers. Leading the losers’ chart was NPF Micro-finance Bank, down 10 per cent to N6.30, followed by Skyway Aviation Handling Company, which shed 9.97 per cent to close at N143.10.
Other notable decliners included Zichis Agro Allied Industries (-9.96 per cent), Mutual Benefits Assurance (-9.91 per cent), and RT Briscoe (-9.90 per cent).
On the upside, Multiverse Mining led the gainers with a 9.98 per cent increase to N18.35, followed by International Energy Insurance (+9.49 per cent) and CHAMS (+8.40 per cent).
MTN Nigeria climbed 5.85 per cent to N760, while PZ Cussons rose 4.59 per cent to N82 per share.
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Market activity strengthened during the session as total traded volume surged 49.63 per cent to 887.68 million shares, valued at N35.56 billion across 53,436 deals.
Wema Bank led the volume chart with 184.13 million shares, accounting for 20.74 per cent of total turnover, while MTN Nigeria dominated by value with N9.08 billion in trades, representing 25.52 per cent of the day’s total value.
The session reflects a renewed investor confidence in select blue-chip and mid-cap stocks, signaling optimism for the market after consecutive days of decline.
