Lagos: The equities market rebounded on Friday, gaining N74 billion as investors sought bargains after previous losses.
Market capitalisation rose 0.07 per cent to N105.959 trillion, up from N105.885 trillion in the previous session.
The All-Share Index gained 114.81 points, or 0.07 per cent, settling at 165,512.18 from 165,397.37.
The rebound was driven by renewed investor interest in stocks such as Morrison, Union Homes Real Estate Investment Trust, SCOA, RT Briscoe, and Austinlaz.
Despite the positive performance, the market breadth closed negative, with 40 losers and 34 gainers.
Neimeth International Pharmaceutical led losers, shedding 9.86 per cent to close at N13.25 per share.
Secure Electronic Technology followed, dropping 9.35 per cent to 97k, while Eterna fell 8.23 per cent to N28.45 per share.
Also, University Press shed by 6.25 per cent, finishing at N6, while Eunisell Interlinked dipped by 5.84 per cent, ending the session at N153.95 per share.
On the other hand, Union Homes Real Estate Investment and Morison led the gainers’ chart by 9.94 per cent each, closing at N71.35 and N7.52 per share, respectively.
This is followed by SCOA and RT Briscoe, which grew by 9.93 per cent, settling at N23.80 and N5.98 per share, respectively, while Austinlaz rose by 9.78 per cent, closing at N4.49 per share.
Analysis of market activity showed an overall decline in market deals, volume, and value, with 731.7 million shares worth N19.05 billion traded across 44,005 deals.
This is in contrast with 768.3 million shares valued at N21.2 billion that were exchanged in 46,481 transactions earlier on Thursday.
CHAMS posted the highest volume at 76.86 million shares, 10.51 per cent of the day’s total.
Zenith Bank recorded the highest value traded at N3.47 billion, accounting for 18.20 per cent of the total value traded for the day.
