The Nigerian stock market rebounded on Thursday, with equity indicators rising by 0.23%. The market capitalization increased by N215 billion to N66.868 trillion, while the All-Share Index rose by 0.32%. Key gainers included Transnational Corporation and SCOA Nigeria, while notable decliners included Sunu Assurance and MRS Nigeria Ltd. Trading volume was 375.73 million shares worth N10.185 billion.
On Thursday, the Nigerian stock market experienced a positive rebound, with equity market indicators increasing by 0.23% due to the price appreciation of various medium and large-cap stocks. As a result, the Nigerian Exchange Ltd. (NGX) market capitalization rose by N215 billion, reaching N66.868 trillion from the previous day’s N66.653 trillion.
The All-Share Index also saw a significant increase of 0.32%, gaining 344 points to close at 106,780.72, up from 106,436.48 in the prior session. This upward trend was largely attributed to the performance of stocks such as Transnational Corporation, Guinness, and Dangote Sugar, contributing to a positive market breadth with 36 gainers and 15 losers.
Leading the gainers’ chart, Transnational Corporation surged by 9.98%, finishing at N51.80 per share. Following closely was SCOA Nigeria, which rose by 9.88% to close at N3.78 per share. Africa Prudential increased by 9.87% to N30.60, while Tantalizers gained 9.52%, closing at N2.37 per share. Additionally, Caverton Offshore Support Group saw a rise of 9.09%, closing at 36k per share.
Conversely, the stock market also recorded losses, with Sunu Assurance, MRS Nigeria Ltd., and Red Star Express leading the decline at 10% each, closing at N4.77, N166.50, and N5.94 per share, respectively. Other notable decliners included Lasaco Assurance, which fell by 7.99% to N2.65, and UPDC Real Estate Investment Trust, declining by 6.76% to N2.62 per share.
During Thursday’s trading session, a total of 375.73 million shares exchanging hands yielded a value of N10.185 billion across 11,447 transactions, a slight decrease in both volume and value compared to the previous day. The shares of Guaranty Trust Holding Company led trading activity with 49.9 million shares valued at N2.91 billion, followed by Access Corporation with 43.8 million shares worth N1.03 billion and Zenith Bank, trading 36.5 million shares valued at N1.72 billion.
In summary, the Nigerian stock market exhibited a rebound on Thursday, with notable increases in various key sectors. The general market indicators reflected positive performance, driven mainly by substantial gains in selected large-cap stocks. Despite some losses, the overall trading activity demonstrated a healthy volume, signaling a resilient market. Investors continue to closely monitor these developments as the market evolves.
Original Source: www.premiumtimesng.com
