The Nigerian stock market rebounded on Thursday, as key indicators climbed by 0.32 percent, buoyed by price appreciation in select medium and large-cap stocks.

The market capitalisation of the Nigerian Exchange Limited, NGX, surged by N215 billion to N66.868 trillion, up from N66.653 trillion recorded in the previous session. Similarly, the All-Share Index, ASI, gained 344 points to close at 106,780.72, reversing the previous session’s decline.

The uptrend was driven by gains in stocks such as Transnational Corporation, Guinness, and Dangote Sugar, among others. Market breadth remained positive, with 36 gainers outpacing 15 decliners.

Transnational Corporation led the gainers’ chart with a 9.98 percent surge, closing at N51.80 per share. SCOA Nigeria followed closely, rising by 9.88 percent to N3.78, while Africa Prudential soared by 9.87 percent to N30.60. Other notable gainers included Tantalizer (+9.52% to N2.37) and Caverton Offshore Support Group (+9.09% to 36k).

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On the flip side, Sunu Assurance, MRS Nigeria Limited, and Red Star Express all suffered a 10 percent decline, closing at N4.77, N166.50, and N5.94 per share, respectively. Lasaco Assurance dipped by 7.99 percent to N2.65, while UPDC Real Estate Investment Trust dropped by 6.76 percent to N2.62.

The day’s trading volume stood at 375.73 million shares, valued at N10.185 billion across 11,447 transactions. This was slightly lower than the 389.57 million shares worth N11.309 billion exchanged in the previous session.

Guaranty Trust Holding Company dominated trading with 49.9 million shares worth N2.91 billion. Access Corporation followed with 43.8 million shares valued at N1.03 billion, while Zenith Bank traded 36.5 million shares at N1.72 billion. Fidelity Bank and United Bank for Africa also saw significant activity, exchanging 2.71 million and 1.94 million shares, valued at N469 million and N705 million, respectively.

With renewed investor confidence driving gains in key stocks, analysts anticipate sustained momentum in the coming sessions.

Reported by The Conclave.