By Seun Ibiyemi
The Nigerian stock market rebounded on Thursday after two consecutive sessions of decline, with investors gaining about N648 billion in market value amid renewed buying interest in key equities.
Market capitalisation rose from N125.750 trillion to N126.398 trillion, representing a 0.52 per cent increase equivalent to N648 billion.
Similarly, the benchmark index of the NGX All-Share Index climbed by 1,010.22 points, or 0.52 per cent, from 195,898.54 to close at 196,908.76.
The positive performance was driven by renewed interest in stocks such as FTN Cocoa Processors Plc, Fidson Healthcare Plc, Deap Capital Management & Trust Plc, Caverton Offshore Support Group Plc and Livestock Feeds Plc, which lifted the market into positive territory.
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As a result, the year-to-date return improved to 26.54 per cent, while market breadth closed flat with 30 gainers and 30 decliners.
Among the top performers, FTN Cocoa Processors led the gainers with a 10 per cent increase to close at N6.27 per share. Fidson followed with a 9.97 per cent rise to N105.35, while Deap Capital Management advanced by 9.89 per cent to close at N7 per share.
Caverton Offshore Support Group rose by 9.40 per cent to N6.40, while Livestock Feeds gained 9.30 per cent to close at N7.05 per share.
On the losers’ chart, Eterna Plc and Omatek Ventures Plc topped the list, each shedding 10 per cent to close at N42.30 and N2.52 per share respectively.
Also, SCOA Nigeria Plc declined by 9.94 per cent to N22.65, while Fortis Global Insurance Plc lost 9.24 per cent to close at N1.08.
Sovereign Trust Insurance Plc also dropped by 9.09 per cent to settle at N2.10 per share.
Market activity, however, weakened during the session, as total volume traded fell by 18.01 per cent to 549.78 million shares.
The transactions were valued at N44.74 billion and executed across 55,465 deals.
Fortis Global Insurance recorded the highest trading volume with 32.18 million shares, while Dangote Cement Plc posted the highest value traded at N20.67 billion.
These accounted for 5.85 per cent and 46.21 per cent of the day’s total traded volume and value respectively.
