The Nigerian stock market rebounded on Thursday, with investors gaining about N648 billion in market value after two consecutive sessions of losses.
Data from the Nigerian Exchange Limited showed that market capitalization rose from N125.750 trillion to N126.398 trillion, representing a 0.52 percent increase equivalent to N648 billion.
Similarly, the All-Share Index advanced by 1,010.22 points, or 0.52 percent, rising from 195,898.54 to close at 196,908.76.
Following the positive performance, the year-to-date return improved to 26.54 percent. Market breadth closed on a neutral note, with 30 gainers and 30 decliners recorded at the end of trading.
On the gainers’ chart, FTN Cocoa Processors led with a 10 percent increase to close at N6.27 per share. Fidson Healthcare, Deap Capital Management, Caverton Offshore Support Group, and Livestock Feeds also recorded notable gains.
Conversely, Eterna and Omatek Ventures topped the losers’ table, each dropping by 10 percent to close at N42.30 and N2.52 per share, respectively.
Meanwhile, trading activity weakened during the session, as total volume traded declined by 18.01 percent to 549.78 million shares.
The shares were exchanged in 55,465 deals valued at N44.74 billion.
Fortis Global Insurance recorded the highest trading volume with 32.18 million shares, while Dangote Cement posted the highest value traded at N20.67 billion, accounting for 5.85 percent and 46.21 percent of the day’s total volume and value, respectively.