The equity market bounced back on Thursday, recovering from the previous session’s decline with a notable N53 billion gain. This turnaround was spurred by heightened investor interest in blue-chip stocks such as Dangote Cement, FBN Holdings, Guaranty Trust Holding Company (GTCO), and Fidelity Bank, alongside other advancing equities.
The market capitalisation rose by 0.09%, increasing from N62.257 trillion at the session’s opening to N62.310 trillion at the close. Similarly, the All-Share Index (ASI) improved by 87.11 points, or 0.09%, to settle at 102,183.06, compared to Wednesday’s 102,095.95. This uptick pushed the Year-to-Date (YTD) return to 0.72%.
Despite the overall market gain, the breadth remained negative, with 35 stocks advancing while 26 declined.
On the losers’ chart, Livestock Feeds led with a 60k decline, closing at N5.40 per share. Eunisell followed, losing N1.73 to end at N15.63. Neimeth International Pharmaceuticals and Regal Insurance each dropped by 7k, closing at N3.12 and 68k per share, respectively, while Honeywell Flour shed 94k to settle at N9.21 per share.
On the flip side, Northern Nigerian Flour Mill topped the gainers’ chart, adding N4.95 to close at N54.45 per share. Dangote Sugar trailed with a N3.65 increase, closing at N40.50 per share. Other notable gainers included John Holt, which rose by 83k to close at N9.30, The Initiate Plc, up 25k to N2.80, and Omatek, which added 8k to settle at 90k per share.
Trading activity surged significantly, with transaction values jumping by 76.82% compared to the previous session. A total of 472.16 million shares worth N16.70 billion were traded across 12,336 deals, exceeding Wednesday’s 435.54 million shares valued at N9.44 billion exchanged in 12,098 deals.
GTCO led the activity chart, dominating in both volume and value, with 65.05 million shares traded at a value of N3.77 billion.
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