The Nigerian equities market rebounded on Thursday as investors recorded gains of N233 billion, driven by renewed buying interest across several stocks.
Market sentiment improved following strong demand for equities such as RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other stocks, pushing the market into positive territory.
Consequently, total market capitalisation rose by 0.22 percent to N105.969 trillion, up from N105.736 trillion recorded at the close of the previous trading session.
Similarly, the All-Share Index (ASI) advanced by 362.93 points, representing a 0.22 percent increase, to close at 165,527.31 points, compared with 165,164.38 points recorded earlier.
Market breadth closed positive, with 41 gainers outweighing 27 losers.
RT Briscoe led the gainers’ chart, rising by 10 percent to close at N7.15 per share. SCOA and Deap Capital Management followed closely with gains of 9.91 percent each, settling at N31.60 and N10.43 respectively.
Veritas Kapital Assurance appreciated by 9.85 percent to close at N2.23, while Zichis Agro Allied Industries climbed by 9.80 percent, ending the session at N3.81 per share.
On the losers’ side, Haldane McCall topped the chart, shedding 9.84 percent to close at N3.94. Union Dicon Salt declined by 9.79 percent to N8.75, while University Press lost eight percent, finishing at N5.75 per share.
Legend Internet dipped by 7.56 percent to N5.50, and Austinlaz fell by 7.50 percent to close at N3.70 per share.
Market activity showed mixed performance, with trading volume increasing by 10 percent, while value traded declined by seven per cent and the number of deals dropped by nine percent.
A total of 691.4 million shares worth N15.4 billion were exchanged in 38,665 deals, compared with 623.18 million shares valued at N16.5 billion traded in 42,172 transactions in the previous session.
Cutix recorded the highest trading volume, with 144.62 million shares, accounting for 20.92 percent of total volume traded.
Aradel Holdings led in value terms, recording trades worth N2.67 billion, representing 17.36 percent of the total value traded for the day.
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