Nigerian equities market bounced back on Thursday, recovering earlier losses as investors gained about N233 billion following renewed demand for stocks across key sectors of the market.
Investor sentiment improved largely due to increased buying interest in equities such as RT Briscoe, SCOA, Deap Capital Management, Veritas Kapital Assurance, Zichis Agro Allied Industries, and several others, which collectively pushed the market into positive territory.
As a result, total market capitalisation rose by 0.22 per cent to N105.969 trillion, up from N105.736 trillion recorded at the close of the previous trading session. The All-Share Index also appreciated by 362.93 points, or 0.22 per cent, to settle at 165,527.31, compared with 165,164.38 previously.
Market breadth closed on a positive note, with 41 stocks recording gains against 27 decliners. RT Briscoe led the gainers’ chart with a 10 per cent increase to close at N7.15, while SCOA and Deap Capital Management followed closely with gains of 9.91 per cent each, closing at N31.60 and N10.43 per share respectively. Veritas Kapital Assurance advanced by 9.85 per cent to N2.23, while Zichis Agro Allied Industries rose by 9.80 per cent to N3.81 per share.
On the downside, Haldane McCall topped the losers’ table with a decline of 9.84 per cent to N3.94, followed by Union Dicon Salt, which dropped by 9.79 per cent to N8.75. University Press shed eight per cent to close at N5.75, while Legend Internet and Austinlaz declined by 7.56 per cent and 7.50 per cent to N5.50 and N3.70 respectively. Trading activity showed mixed performance, with total volume rising by 10 per cent, while value and number of deals declined by seven per cent and nine per cent respectively, as 691.4 million shares worth N15.4 billion were traded in 38,665 transactions. Cutix recorded the highest volume traded, while Aradel Holdings led in value traded. (NAN)
