Investors in the Nigerian stock market gained N648 billion in market value on Thursday as the market rebounded after two sessions of decline.
Renewed interest in equities such as FTN Cocoa Processors, Fidson, Deep Capital Management, Caverton Offshore Support Group and Livestock Feeds lifted the market into positive territory.
Market capitalisation increased from N125.750 trillion to N126.398 trillion, a 0.52 per cent jump equal to N648 billion.
The All-Share Index climbed 1,010.22 points, or 0.52 per cent, from 195,898.54 to close at 196,908.76.
As a result, the year-to-date return improved to 26.54 per cent. Market breadth remained flat, with 30 gainers and 30 decliners.
FTN Cocoa Processors led the gainers, rising 10 per cent to close at N6.27.
Fidson followed closely, posting a 9.97 per cent rise to N105.35. Deap Capital Management, meanwhile, gained 9.89 per cent to close at N7 per share.
Caverton Offshore Support Group advanced by 9.40 per cent to N6.40, while Livestock Feeds trailed with a 9.30 per cent increase, closing at N7.05 per share.
On the downside, Eterna and Omatek Ventures led the losers’ chart, each shedding 10 per cent to close at N42.30 and N2.52 per share, respectively.
SCOA’s value declined by 9.94 per cent to N22.65, while Fortis Global Insurance ended the day with a 9.24 per cent loss, closing at N1.08.
Sovereign Trust Insurance dropped by 9.09 per cent to close at N2.10 per share.
Market activity weakened, with total volume traded falling 18.01 per cent to 549.78 million shares.
The transactions totalled N44.74 billion across 55,465 deals.
Fortis Global Insurance recorded the highest trading volume, with 32.18 million shares traded.
Dangote Cement posted the highest value traded at N20.67 billion. This represented 5.85 per cent and 46.21 per cent, respectively, of the day’s total volume and value.
