Equities Market Recoups Losses, Gains N233 Billion

The Nigerian stock market rebounded on Thursday, as investors recorded gains of N233 billion following renewed buying interest in equities.

Market sentiment improved on the back of demand for stocks such as RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities, pushing the market into positive territory.

Consequently, market capitalisation rose by 0.22 per cent to N105.969 trillion from N105.736 trillion at the close of the previous session.

Similarly, the All-Share Index gained 362.93 points, or 0.22 per cent, to close at 165,527.31, compared with 165,164.38 recorded earlier.

Also, the market breadth closed positive with 41 gainers and 27 losers.

RT Briscoe topped the gainers’ chart by 10 per cent, ending the session at N7.15, SCOA and Deap Capital Management trailed by 9.91 per cent each, settling at N31.60 and N10.43 per share respectively.

Veritas Kapital Assurance grew by 9.85 per cent, closing at N2.23, and Zichis Agro Allied Industries soared by 9.80 per cent, finishing at N3.81 per share.

Haldane McCall led the losers’ chart by 9.84 per cent, closing at N3.94, Union Dicon Salt followed with a decline of 9.79 per cent, ending the session at N8.75, while University Press lost by eight per cent, finishing at N5.75 per share.

Legend Internet dipped by 7.56 per cent to N5.50, while Austinlaz dropped by 7.50 per cent to N3.70 per share.

An evaluation of market activity revealed a 10 per cent increase in volume, a seven per cent decline in value, and a nine per cent decline in deals.

A total of 691.4 million shares, valued at N15.4 billion, were exchanged across 38,665 transactions, compared with 623.18 million shares valued at N16.5 billion traded in 42,172 deals earlier on Wednesday.

Meanwhile, Cutix recorded the highest volume with 144.62 million shares, accounting for 20.92 per cent of the total volume traded for the day.

Aradel Holdings recorded the highest value traded at N2.67 billion, accounting for 17.36 per cent of the day’s total value traded.

(NAN)