The Nigerian equities market rebounded on Monday, recording a N344 billion gain as renewed investor interest in University Press, ABC Transport and other advancing stocks lifted market capitalisation by 0.21 per cent.
The Nigerian equities market recovered from previous losses on Monday, gaining N344 billion as renewed investor interest in several stocks lifted market capitalisation and the All-Share Index.
Market capitalisation increased to N163.999 trillion from N163.655 trillion recorded at the close of trading on Friday, representing a gain of N344 billion or 0.21 per cent.
Similarly, the All-Share Index rose by 521.70 points, representing a 0.21 per cent increase, to close at 252,635.11, compared with 252,113.41 recorded in the previous trading session.
The market’s year-to-date return also improved to 62.35 per cent following Monday’s gains.
The positive performance was driven by renewed buying interest in University Press, Critical Minerals Financing Corp., ABC Transport, Eterna, Sovereign Trust Insurance and 28 other advancing stocks.
Market breadth closed positively, with 33 stocks recording gains against 24 decliners.
University Press led the gainers’ chart, appreciating by 9.89 per cent to close at N5 per share. Critical Minerals Financing Corp. followed with a 9.82 per cent increase to N3.58, while ABC Transport gained 9.80 per cent to close at N5.60 per share.
Eterna advanced by 9.62 per cent to N42.75, while Sovereign Trust Insurance rose by 9.17 per cent to close at N2.62 per share.
On the losers’ chart, Fortis Global Insurance recorded the largest decline, shedding 9.50 per cent to close at N1.81 per share.
Trans-Nationwide Express followed with a loss of 8.47 per cent to N2.70, while FG162029S1 declined by 6.67 per cent to close at N70 per share.
RT Briscoe also fell by 6.07 per cent to N10.05, while WAPIC dropped by 4.74 per cent to close at N2.21 per share.
Meanwhile, trading activity increased during the session, with investors exchanging 1.01 billion shares valued at N39.02 billion in 61,517 transactions.
Fidelity Bank dominated trading by volume and value, recording 528 million shares worth N10.63 billion.
The bank’s transactions accounted for 51.52 per cent of the total trading volume and 26.88 per cent of the market’s total transaction value.
Monday’s performance marked a recovery for the Nigerian equities market following the losses recorded in the previous trading session.
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