The Nigerian stock market experienced a rebound of 0.23% on Thursday, with market capitalization rising by N215 billion. The All-Share Index climbed by 0.32%, supported by gains in major stocks. Transnational Corporation led gainers, while losses were noted in Sunu Assurance and other companies. A total of 375.73 million shares valued at N10.185 billion were traded during the session.
On Thursday, the Nigerian stock market demonstrated a positive shift, with equity market indicators rising by 0.23%, largely driven by price appreciation in several medium- and large-cap stocks. The Nigerian Exchange Ltd. (NGX) market capitalization increased by N215 billion, equivalent to 0.32%, reaching N66.868 trillion, up from N66.653 trillion at the opening of the previous day.
The All-Share Index registered an increase of 0.32%, translating to 344 points, closing at 106,780.72, compared to the previous session’s figure of 106,436.48. Key contributors to this uptrend included notable performances from stocks like Transnational Corporation, Guinness, and Dangote Sugar, resulting in a favorable market breadth with 36 gainers versus 15 losers.
Transnational Corporation emerged as a leader on the gainers’ chart, achieving a 9.98% increase to close at N51.80 per share. This was closely followed by SCOA Nigeria, which rose by 9.88% to N3.78 per share, and Africa Prudential, witnessing a surge of 9.87% to close at N30.60. Other noteworthy gainers included Tantalizers, which increased by 9.52%, and Caverton Offshore Support Group at 9.09%.
On the downside, Sunu Assurance, MRS Nigeria Ltd., and Red Star Express topped the losers’ table, each declining by 10% to end at N4.77, N166.50, and N5.94 per share, respectively. Additional losses were recorded by Lasaco Assurance, which fell by 7.99% to N2.65, while UPDC Real Estate Investment Trust declined by 6.76% to N2.62 per share.
During the trading session, a total of 375.73 million shares valued at N10.185 billion were exchanged across 11,447 transactions, a decrease from the previous total of 389.57 million shares worth N11.309 billion over 11,423 transactions. Guaranty Trust Holding Company led trading activity, with 49.9 million shares valued at N2.91 billion, followed by Access Corporation and Zenith Bank, which transacted shares worth N1.03 billion and N1.72 billion, respectively.
The Nigerian stock market rebounded on Thursday, showcasing a growth of 0.23% driven by significant gains in key stocks, particularly Transnational Corporation and others. The market demonstrated a positive breadth, reaffirming investor confidence, despite losses from certain entities. Overall, the trading session was marked by a substantial volume of shares exchanged.
Original Source: www.premiumtimesng.com
