Nigeria’s stock market rebounded by 0.02 percent with a gain of N11 billion in market capitalisation, closing the All-Share Index at 107,798.99. Key performers included UH Real Estate Investment Trust and Africa Prudential, while trading volume decreased from prior sessions. The Year-To-Date return remains at 4.73 percent, reflecting cautious investor optimism.
The Nigerian stock market experienced a slight recovery on Wednesday, achieving a modest gain of 0.02 percent after a series of losses. The Nigeria Exchange Ltd. (NGX) saw its market capitalisation increase by N11 billion, bringing it to N67.179 trillion from the previous N67.168 trillion. The All-Share Index also rose by 17 points, closing at 107,798.99, up from Tuesday’s 107,781.79, resulting in a Year-To-Date return of 4.73 percent.
Several stocks contributed to this rebound, with UH Real Estate Investment Trust leading the gainers with an impressive 9.94 percent increase, closing at N44.25 per share. Africa Prudential followed closely with a 9.90 percent rise to N33.30 per share. Other notable gainers included Caverton Offshore Support Group and Lasaco Assurance, which increased by 9.87 percent and 6.92 percent, ending at N2.45 and N3.09 per share, respectively.
The trading volume revealed that investors exchanged 245,516,922 shares valued at N8.414 billion across 10,098 deals, which was a decline from the previous figures of 363,516,922 shares worth N10.118 billion in 13,753 deals. Access Holdings led the trading volume with 36.55 million shares, while Zenith Bank and Sterling Financial Holdings followed with 26.79 million shares and 11.25 million shares traded, respectively.
The market’s actions reflect a cautious but positive sentiment among investors as they navigate current economic conditions. In related news, stakeholders in the agricultural sector have been urged to adopt financing strategies for enhancing agroecology, while recent political pledges in Katsina signify strong electoral intentions for upcoming elections. Judicial developments also continue to impact personal relationships, as highlighted by a recent court ruling on marriage dissolution due to persistent conflicts.
In summary, Nigeria’s stock market demonstrated a slight recovery with a 0.02 percent gain after a period of losses, highlighting a modest increase in market capitalisation and a positive year-to-date return. Key stocks contributed significantly to this rebound, although trading volumes have decreased. The market’s performance is indicative of a seeking stability as investors adapt to ongoing economic challenges.
Original Source: gazettengr.com
