The Nigerian equities market rebounded on Tuesday to close higher, snapping its two-day losing streak as the overall market capitalisation advanced by N719bn.
The All-Share Index gained 1,121.33 points, representing a 0.46 per cent growth, to close at 242,870.44 points. Accordingly, market capitalisation rose to close at N155.85tn.
The upturn was driven by gains recorded in medium and large-capitalised stocks, including Transcorp Hotels, MTN Nigeria Communications, First HoldCo, Stanbic IBTC Holdings, and Zenith Bank.
Investor sentiment remained positive, as 24 gainers outpaced 22 losers. Learn Africa recorded the highest price gain of 10 per cent to close at N9.90 per share. First HoldCo followed with a 9.98 per cent gain to close at N72.15, while Thomas Wyatt Nigeria appreciated 9.80 per cent to close at N2.69 per share.
Similarly, R.T. Briscoe rose 8.68 per cent to close at N13.15, while Transcorp Hotels went up 8.37 per cent to close at N242.00 per share.
On the other hand, International Energy Insurance led the losers’ chart, shedding 9.86 per cent to close at N4.66 per share. Legend Internet followed with a decline of 9.18 per cent to close at N4.45, while Fortis Global Insurance declined 7.67 per cent to close at N2.77 per share.
FTN Cocoa Processors depreciated 7.55 per cent to close at N8.21, while International Breweries declined 4.79 per cent to close at N13.90 per share.
The total volume traded advanced 21.25 per cent to 634.78 million units, valued at N53.34bn, exchanged in 42,494 deals.
Transactions in the shares of First HoldCo topped the activity chart with 326.92 million shares valued at N22.33bn. Guaranty Trust Holding Company followed with 22.47 million shares worth N2.82bn, while Access Holdings traded 18.53 million shares valued at N461.61m.
FCMB Group traded 16.12 million shares valued at N166.84m, while Zenith Bank sold 15.92 million shares worth N1.73bn.
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