By Adeyemi David
The Nigerian equities market rebounded on Wednesday, adding N684 billion to investors’ portfolios as renewed buying interest in key stocks lifted overall performance.
Market capitalisation rose from N121.552 trillion at the start of trading to N122.236 trillion at the close, while the Nigerian Exchange Limited All-Share Index advanced by 0.56 percent, or 1,065.02 points, to settle at 190,427.96, compared with 189,362.94 recorded on Tuesday.
The Year-to-Date return consequently improved to 22.37 percent.
The rally was driven by increased demand for equities such as Beta Glass Plc, AXA Mansard Insurance Plc, Skyway Aviation Handling Company Plc, Zichis Agro Allied Industries Ltd, and Japaul Gold and Ventures Plc, among others.
Despite the positive close, market breadth remained negative with 42 losers against 34 gainers. Deap Capital Management & Trust Plc topped the losers’ chart with a 10 percent decline to N6.30 per share.
Mecure Industries Plc dropped by 9.99 percent to N84.25, while Vitafoam Nigeria Plc fell by 9.98 percent to close at N116.85.
Also on the decliners’ list were Union Dicon Salt Plc, which shed 9.80 percent to N18.40, and Abbey Mortgage Bank Plc, down by 9.62 percent to N10.80 per share.
On the gainers’ table, Beta Glass, Skyway Aviation Handling Company, and AXA Mansard Insurance each appreciated by 10 percent to close at N498.50, N128.70, and N17.05 respectively.
Zichis Agro Allied Industries climbed 9.95 percent to N14.36, while Japaul Gold and Ventures rose by 9.90 percent to N3.33 per share.
Trading activity showed strong momentum, with volume surging by 206 percent, value rising by three percent, and the number of deals declining by 21 percent.
Investors exchanged 3.7 billion shares worth N61.9 billion across 68,693 transactions, compared with 1.9 billion shares valued at N60.2 billion traded in 86,607 deals the previous day.
First City Monument Bank recorded the highest volume and value, with 2.94 billion shares traded at N35.88 billion—representing 80.17 percent and 57.98 percent of the day’s total volume and value, respectively.
