The Nigerian equities market rebounded on Thursday, gaining N239 billion in market capitalization as renewed investor demand lifted selected stocks.
The recovery came a day after the market’s previous decline, with gains in Seplat Energy, UPDCREIT, Learn Africa, Regency Alliance Insurance, Jaiz Bank and 17 other equities helping to push the All-Share Index higher.
The market’s performance was also supported by the inclusion of 31 Nigerian companies in the FTSE Frontier Index Series by FTSE Russell, which boosted investor confidence.
The All-Share Index gained 369.05 points, representing a 0.15 per cent increase, to close at 246,388.22 points, compared with 246,019.17 points at Wednesday’s close. Despite the overall gain, market breadth remained negative, as 34 equities recorded losses against 22 gainers.
FG152028S1 led the losers’ chart, declining by 19.50 per cent to close at N80.50 per unit. RT Briscoe followed with a 10 per cent decline to N9.90, while Critical Minerals Financing Corp fell by 9.86 per cent to N2.56.
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On the gainers’ chart, Seplat Energy led with a 10 per cent increase, closing at N13,552.60 per share. UPDCREIT followed with a 9.88 per cent gain to N13.90, while Learn Africa rose by 9.49 per cent to N8.65 per share.
Regency Alliance Insurance gained 4.76 per cent to close at 88 kobo, while Jaiz Bank advanced by 4.22 per cent to N8.65.
Trading activity also strengthened during the session, with total volume rising by 1.68 per cent to 434.02 million shares. The transactions were valued at N29.30 billion and executed across 42,303 deals.
United Bank for Africa dominated trading activity, accounting for 113.26 million shares valued at N5.23 billion. The bank’s transactions represented 26.10 per cent of the total volume and 17.84 per cent of the total value traded.
Overall, the market’s modest recovery reflected renewed demand for selected equities despite continued selling pressure across several counters.
NAN
