The Nigerian stock market rebounded by 0.20 per cent on Thursday, adding N328 billion to investors’ wealth after recording losses in the previous two trading sessions.
The recovery was driven by renewed bargain hunting and increased investor interest in stocks such as Fidson Healthcare, Sunu Assurances, Champion Breweries, Fortis Global Insurance and Caverton Offshore Support Group, among others.
The positive performance pushed the market’s capitalisation to N163.859 trillion, while the All-Share Index gained 505.56 points to close at 252,366.80.
Specifically, market capitalisation, which opened at N163.531 trillion, gained N328 billion to close at N163.859 trillion.
Similarly, the All-Share Index rose by 0.20 per cent, or 505.56 points, to settle at 252,366.80, compared with 251,861.24 recorded on Wednesday.
The performance increased the market’s year-to-date return to 62.18 per cent, while market breadth closed positive, with 26 stocks gaining and 21 declining.
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Fidson led the gainers’ chart with a 9.94 per cent increase, closing at N91.80 per share. Sunu Assurances followed with a 9.92 per cent gain to settle at N2.88, while Champion Breweries appreciated by 9.85 per cent to close at N11.15 per share.
Similarly, Caverton Offshore Support Group advanced by 9.59 per cent to close at N4.00, while Fortis Global Insurance gained 9.42 per cent to settle at N1.51 per share.
On the losers’ chart, International Breweries led with a 7.18 per cent decline, closing at N8.40 per share. Tantalizers followed with a 6.67 per cent loss to settle at N3.50, while Honeywell Flour shed 4.85 per cent to close at N31.40 per share.
Vitafoam also declined by 4.66 per cent to N134.90, while UPDC Real Estate Investment Trust (UPDCREIT) fell by 3.74 per cent to close at N19.30 per share.
Market activity recorded a significant increase, with trading volume surging by 596.70 per cent to 2.91 billion shares, valued at N78.66 billion, across 28,318 deals.
Livestock Feeds dominated trading by volume, with 2.20 billion shares exchanged, while First Holdco led by value, recording transactions worth N32.40 billion.
NAN
