Nigeria’s stock market staged a recovery on Thursday, ending its losing streak as the All-Share Index rose by 0.60 per cent to close at 138,980.01 points, compared to the previous day’s 138,157.16 points.
The rebound saw investors’ wealth increase by N521 billion, with market capitalisation climbing by the same 0.60 per cent to N87.937 trillion, up from N87.416 trillion.
Trading activity was robust, with 1.8 billion shares exchanged in 24,612 deals, valued at N16 billion. Market breadth closed on a positive note, as 41 stocks advanced while 12 recorded losses.
Among the top gainers were Ellah Lakes and Veritas Kapital, both rising by 10 per cent to close at N12.98 and N1.98, respectively, from their previous N11.80 and N1.80. Honeywell Flour, Royal Exchange, and Mansard also posted strong gains of 9.95 per cent, 9.94 per cent, and 9.94 per cent, respectively.
On the flip side, Austin Laz led the laggards, dropping 9.75 per cent to N2.87 from N3.18. Neimeth and Daar Communications also declined by 8.33 per cent and 4.44 per cent, respectively.
Sovereign Trust Insurance dominated activity in volume, trading about 1.4 billion units of its shares in 124 deals worth roughly N4.2 billion. Nigerian Breweries saw 28 million shares traded in 250 deals valued at N2.8 billion, while Fidelity Bank exchanged 31 million units in 665 deals worth N642 million.
