The domestic stock market rebounded from its previous session’s loss, adding N60 billion as renewed investor interest boosted equities such as MTN Nigeria, Oando Plc, and Access Corporation.
The market capitalisation increased by 0.10 per cent, rising from N59.472 trillion to N59.532 trillion. Similarly, the All-Share Index gained 99.45 points, closing at 98,206.97 from 98,107.52 recorded on Monday. This lifted the Year-To-Date (YTD) return to 31.34 per cent.
Market breadth was positive, with 36 gainers and 21 losers. Golden Guinea Breweries Plc topped the gainers’ chart, adding 59k to close at N6.53, followed by Guinea Insurance, which gained 5k to close at 56k per share. Other gainers included Tantalizers (+13k to N1.46), Africa Prudential (+N1.15 to N13), and ABC Transport (+11k to N1.25 per share).
On the losers’ table, John Holt led with a decline of 80k to close at N7.23, while Haldane McCall followed, losing 58k to close at N5.27. Morison dropped N4.01 to close at N4.01, Wapco fell N5.50 to N65, and UPDC Real Estate Investment Trust shed 30k to close at N4.85 per share.
Trading activity saw a slight drop, with turnover decreasing by 0.40 per cent. A total of 939.41 million shares valued at N12.81 billion were traded in 9,098 deals, compared to 436.04 million shares worth N12.86 billion in 9,489 deals during the previous session.
Wapic dominated the trade volume with 457.64 million shares, while MTN led in value, accounting for N4.32 billion worth of deals.
Credit: NAN (Text Excluding Headline)
