The Nigerian Stock Market rebounded strongly on Wednesday, gaining N2.593 trillion in value and boosting investors’ portfolios.
The bullish rally was driven by major stocks such as Guaranty Trust Holding Company, Nigerian Breweries, Ecobank Transnational, Access Corporation, AXA Mansard, and 60 other advancers.
Specifically, the market capitalization rose by 2.88 per cent, moving from N89.884 trillion to N92.477 trillion. Similarly, the All-Share Index appreciated by 2.88 per cent, closing at 145,403.83 points, compared to 141,327.30 recorded on Tuesday.
The Year-To-Date, YTD, return rose to 41.27 per cent, while market breadth remained positive with 65 gainers and 11 losers.
Guaranty Trust Holding Company, Nigerian Breweries, Ecobank Transnational, Access Corporation, and AXA Mansard topped the gainers’ chart by 10 per cent each.
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They closed at N85.80, N66, N34.65, N22, and N13.31 per share respectively.
Conversely, Transpower, Vitafoam, and Austinlaz led the losers’ chart, shedding 10 per cent each to close at N307.80, N84.60, and N2.61 per share respectively.
Red Star Express declined by 9.80 per cent to N9.20, while Abbey Mortgage Bank dropped by 9.72 per cent to N6.50 per share.
Market activity analysis showed a 73 per cent rise in turnover, a 23 per cent increase in volume, and a 17 per cent decline in the number of deals.
A total of 806.4 million shares worth N50.78 billion were traded across 24,509 transactions.
This compared to 655.9 million shares worth N29.4 billion exchanged in 29,558 deals on Tuesday.
Guaranty Trust Holding recorded the highest traded volume of 105 million shares, while Aradel posted the highest transaction value at N12.91 billion.
NAN
