By Seun Ibiyemi
The Nigerian equities market rebounded on Thursday, adding about N220 billion to investors’ portfolios after recovering from a one-day decline.
Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation rose by 0.18 per cent to close at N126.317 trillion, up from N126.097 trillion recorded in the previous session.
Similarly, the benchmark All-Share Index (ASI) advanced by 0.18 per cent to settle at 196,807.15 points, compared with Wednesday’s close of 196,463.22 points.
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The latest performance pushed the market’s year-to-date return to 26.47 per cent.
The positive sentiment was driven by gains in several stocks including Eterna Plc, NPF Microfinance Bank, Premier Paints Plc, Custodian Investment Plc and Fortis Global Insurance, alongside 28 other advancing equities.
Despite the rally, market breadth closed negative with 39 decliners compared to 33 gainers.
On the losers’ chart, Triple Gee & Company Plc led with a 9.94 per cent drop to close at N4.26 per share, while Multiverse Mining and Exploration Plc declined by 9.91 per cent to N20.45. Jaiz Bank Plc also fell by 7.41 per cent to close at N10 per share.
Others on the decliners’ list included Honeywell Flour Mills Plc, which shed 7.11 per cent to N20.90, and Dangote Sugar Refinery Plc, which dipped by 7.10 per cent to close at N69.40 per share.
On the gainers’ table, Eterna and NPF Microfinance Bank led with 10 per cent gains each to close at N38.50 and N7.15 respectively. Premier Paints rose by 9.92 per cent to N13.30, Custodian Investment gained 9.71 per cent to N76.80, while Fortis Global Insurance appreciated by 9.68 per cent to N1.36 per share.
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Market activity, however, declined during the session, with total traded volume dropping by 21.27 per cent to 634.01 million shares valued at N29.11 billion across 66,286 deals.
Jaiz Bank recorded the highest trading volume with 137.30 million shares exchanged, representing 21.66 per cent of the day’s total volume.
Meanwhile, Guaranty Trust Holding Company Plc (GTCO) led in value traded with transactions worth N5.41 billion, accounting for 18.59 per cent of the day’s total market value.
