TheDiggerNews
Lagos: The Nigerian stock market rebounded on Thursday, with investors recording gains of N233 billion amid renewed buying interest in equities.
Market sentiment improved on the back of demand for stocks such as RT Briscoe, SCOA, Deep Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities, pushing the market into positive territory.
Market capitalisation rose 0.22 per cent to N105.969 trillion, up from N105.736 trillion in the previous session.
The All-Share Index also climbed by 362.93 points, or 0.22 per cent, closing at 165,527.31 versus the prior 165,164.38.
Supporting this upward trend, the market breadth closed positive with 41 gainers and 27 losers.
RT Briscoe topped the gainers’ chart by 10 per cent, ending the session at N7.15. SCOA and Deep Capital Management trailed by 9.91 per cent each, settling at N31.60 and N10.43 per share, respectively.
Veritas Kapital Assurance grew by 9.85 per cent, closing at N2.23, and Zichis Agro Allied Industries soared by 9.80 per cent, finishing at N3.81 per share.
Conversely, Haldane McCall led the losers’ chart by 9.84 per cent, closing at N3.94, Union Dicon Salt followed with a decline of 9.79 per cent, ending the session at N8.75, while University Press lost by 8 per cent, finishing at N5.75 per share.
Legend Internet dipped by 7.56 per cent to N5.50, while Austinlaz dropped by 7.50 per cent to N3.70 per share.
An evaluation of market activity revealed a 10 per cent increase in volume, a 7 per cent decline in value, and a 9 per cent decline in deals.
A total of 691.4 million shares, valued at N15.4 billion, were exchanged across 38,665 transactions, compared with 623.18 million shares valued at N16.5 billion traded in 42,172 deals earlier on Wednesday.
In terms of volume, Cutix recorded the highest with 144.62 million shares, accounting for 20.92 per cent of the total traded for the day.
Aradel Holdings recorded the highest value traded at N2.67 billion, accounting for 17.36 per cent of the day’s total.
