Nigerian stock market rebounded on Wednesday after a two-day loss, with investors gaining N1.184 trillion. The market capitalisation rose by N1.184 trillion, or 1.63%, to close at N73.681 trillion.
The All-Share Index (ASI) also rose by 1,876.71 points, or 1.63%, settling at 116,786.87. According to the market report, “This uptrend was fueled by strong buying interest in medium and large-capitalised stocks including NEM Insurance, Beta Glass, Seplat, Linkage Assurance and 34 other stocks.”
Some of the top gainers included NEM Insurance, which increased by 10% to close at N16.5, while Beta Glass rose by 9.99% to N250.95 per share. Seplat Energy gained 9.79% to close at N5,450, and Linkage Assurance soared by 9.56% to close at N1.49 per share.
The market breadth closed positive, with 38 gainers and 32 losers. Total turnover stood at 640.08 million shares valued at N26.01 billion, traded across 19,727 deals. Transactions in the shares of Zenith Bank topped the activity chart with 149.92 million worth N7.21 billion.
The market’s positive performance was a welcome development after two days of losses. As the market continues to trend upwards, investors are optimistic about the future performance of the market.
