Stock Market Rebounds, Gains N720 Billion

The Nigerian stock market rebounded on Tuesday, with investors gaining N720 billion as renewed buying interest lifted key performance indicators.

Specifically, the market capitalisation rose by 0.46 per cent to N155.849 trillion, from N155.129 trillion recorded in the previous trading session, representing a gain of N720 billion.

Similarly, the All-Share Index (ASI) advanced by 1,121.33 points, or 0.46 per cent, to close at 242,870.44, compared with 241,749.11 posted on Monday.

The positive performance was driven by gains in medium and large-cap stocks across key sectors, particularly banking, insurance, consumer goods and real estate.

Financial stocks dominated the gainers’ chart, particularly banks and insurers, suggesting investors maintained confidence in the financial services sector.

While the market’s year-to-date return increased to 56.07 per cent, the market breadth closed positively with 26 gainers and 23 losers.

Learn Africa led the gainers’ table by 10 per cent, settling at N9.90, while Firstholdco followed by 9.98 per cent, ending the session at N72.15.

Thomas Wyatt Nigeria similarly grew by 9.80 per cent, finishing at N2.69 per share.

Also, Nigeria Real Estate Investment Trust increased by 9.71 per cent, closing at N113, and RT Briscoe advanced by 8.68 per cent, settling at N13.15 per share.

International Energy Insurance led the losers’ chart by 9.86 per cent, finishing at N4.66. Legend Internet trailed by 9.18 per cent, settling at N4.45 per share, while Fortis Global Insurance lost 7.67 per cent, closing at N2.77 per share.

FTN Cocoa Processors declined by 7.55 per cent, ending the session at N8.21, and International Breweries dipped by 4.79 per cent, finishing at N13.90 per share.

Market activity improved during the session, as total trading volume increased by 21.25 per cent to 634.78 million shares, valued at N53.34 billion, in 42,494 transactions.

First HoldCo emerged as the most actively traded stock by both volume and value, with 326.92 million shares worth N22.33 billion exchanged.

The transactions accounted for 51.50 per cent of the day’s total volume and 41.87 per cent of the total value traded.

(NAN)