The Nigerian Exchange (NGX) rebounded on Thursday, recording a N216 billion gain as renewed investor interest, particularly in blue-chip stocks, drove the market’s recovery. This positive shift pushed the total market capitalisation to N66.9 trillion, marking the first gain in March after a period of bearish trading. The All-Share Index also rose by 0.32 per cent to close at 106,780.72 points, reflecting growing confidence in the market despite recent volatility.
At the close of trading on Thursday, the All-Share Index (ASI) rose by 344.24 points, or 0.32 per cent, to settle at 106,780.72 points. Despite this gain, the index still reflects a one-week decline of 0.83 per cent. However, it maintains a four-week increase of 1.28 per cent and a year-to-date gain of 3.74 per cent, signaling overall market stability.
The trading session saw 375.7 million shares valued at N10.18 billion exchanged in 11,447 deals. This represented a four per cent decline in volume and a 10 per cent drop in turnover compared to the previous trading session on Wednesday.
A total of 128 stocks participated in the day’s trading, with 35 recording gains, 15 declining, and the remaining stocks closing unchanged.
Top Gainers and Losers
Transcorp Nigeria Plc led the gainers’ chart with a 9.98 per cent appreciation, closing at N51.80 per share. It was followed by SCOA Nigeria, which gained 9.88 per cent to settle at N3.78 per share. Other notable gainers included Africa Prudential, which advanced by 9.87 per cent to close at N30.60 per share, and Tantalizers, which rose by 9.72 per cent to N2.37 per share.
On the losing side, MRS Oil Nigeria, Red Star Express, and Sunu Assurances Nigeria emerged as the biggest decliners, each shedding 10 per cent of their share price. MRS Oil closed at N166.50 per share, Red Star Express ended at N5.94 per share, and Sunu Assurances finished at N4.77 per share. Lasaco Assurance also recorded a loss, declining by 7.99 per cent to close at N2.65 per share.
Sectoral Performance
The banking sector dominated trading activity, with Guaranty Trust Holding recording the highest number of shares traded at 49.9 million units. Access Holdings followed with 43.9 million shares, while Zenith Bank and Fidelity Bank traded 36.5 million and 27.1 million shares, respectively.
A breakdown of sectoral performance showed mixed trends across key indices:
- The Top 30 Index gained 0.42 per cent, reflecting increased interest in blue-chip stocks.
- The Pension Index climbed by 0.9 per cent, indicating investor confidence in pension-related equities.
- The Banking Index appreciated by 0.83 per cent, driven by gains in major banking stocks.
- The Consumer Goods Index advanced by 0.78 per cent, signaling positive momentum in consumer-driven stocks.
- The Premium Index, which tracks the most capitalised stocks, rose by 0.37 per cent.
- The Main Board Index gained 0.3 per cent.
Previous Session’s Performance
The gain on Thursday followed a bearish session on Wednesday, where investors lost N289 billion as the market capitalisation dropped to N66.7 trillion at the close of trading.