Investors celebrate a massive wealth injection as the Nigerian stock market aggressively rebounds with a staggering N917 billion single-day gain.
In a spectacular demonstration of market resilience that has reignited widespread investor optimism, the Nigerian Exchange Limited aggressively broke a grueling three-day bearish streak on Tuesday to log a staggering single-day gain of N917 billion.
This emphatic financial turnaround signals a powerful resurgence of bullish momentum across the trading floor, effectively reversing the negative sentiment that had dominated the preceding trading sessions. Fueled by strategic, high-volume buying interests, the overall market capitalization experienced an impressive leap of 0.57 percent, jumping sharply from its opening value of N160.362 trillion to close at an unprecedented high of N161.279 trillion.
In complete tandem with this equity expansion, the benchmark All-Share Index advanced significantly by 1,430.59 points, elevating from 250,204.83 to settle at 251,635.42, which subsequently pushed the bourse’s phenomenal Year-to-Date return to a historic 61.71 percent.
The primary catalysts anchoring this dramatic market recovery included exceptional, top-tier performances from key agro-allied, aviation, and marine logistics stocks. Leading the pack on the gainers’ chart was FTN Cocoa Processors Plc, which secured a maximum possible daily appreciation of 10 percent to close at N9.79 per share, closely chased by Zichis Agro-Allied Industries Limited with a robust 9.97 percent growth to settle at N29.13 per share.
Aviation logistics giant Skyway Aviation Handling Company Plc also posted stellar numbers by climbing 9.79 percent to wrap up the session at N156.95 per share, while marine support heavyweights Caverton Offshore Support Group and JaPaul Gold advanced firmly by 9.76 percent and 9.73 percent to close at N6.75 and N3.72 respectively.
However, despite this overarching capital surge, underlying market breath ironically closed on a negative footing as 33 equities suffered losses against 27 advancing counters, highlighted by Unilever Nigeria Plc shedding 10 percent of its value to close at N153, alongside notable contractions from Trans-Nationwide Express and Sovereign Trust Insurance.
Unpacking the day’s structural trading metrics revealed a noticeable, cautious contraction in overall transaction liquidity, with total traded volume, financial value, and deal counts all sliding below the tallies established on the previous day.
Specifically, investors exchanged 703.95 million units of shares valued at N32.15 billion across 64,539 distinct transactions, a moderate comedown from Monday’s robust turnover of 800.46 million shares which had been priced at N37.05 billion across 87,096 deals. Banking conglomerates effortlessly retained their traditional dominance over the activity charts, as Access Holdings Plc emerged as the single most liquid stock by volume with 88.41 million shares moving through its counter, capturing 12.56 percent of the day’s entire volume pool.
Meanwhile, Zenith Bank Plc fiercely commanded the value spectrum, facilitating a massive N3.99 billion worth of trades to claim 12.42 percent of the market’s total monetary turnover and solidifying the financial sector’s pivotal role in anchoring this monumental market bounce.
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