The Nigerian stock market rebounded on Wednesday, adding N104 billion in market capitalisation following renewed buying interest across several equities.
The market capitalisation rose by 0.06 per cent to N160.812 trillion from N160.708 trillion recorded at the close of Tuesday’s session.
Similarly, the All-Share Index gained 160.02 points, representing a 0.06 per cent increase, to close at 247,673.65 from 247,513.63 previously.
The market’s year-to-date return consequently rose to 59.16 per cent, while market breadth closed positive with 31 gainers against 17 losers.
The positive performance was driven by demand for Austinlaz, Etranzact, Livestock Feeds, Critical Minerals Financing Corp, Fortis Global Insurance and 26 other equities.
Austinlaz led the gainers’ chart, appreciating by 10 per cent to close at N2.42 per share.
Etranzact followed with a 9.76 per cent gain, settling at N15.75, while Livestock Feeds advanced by 9.71 per cent to N16.95 per share.
Critical Minerals Financing Corp rose by 9.60 per cent to N3.54, while Fortis Global Insurance gained 9.38 per cent to close at N1.75 per share.
Conversely, UPDCREIT led the losers, declining by 9.96 per cent to close at N23.50 per share.
UPDC shed 6.02 per cent to N3.90, while Regency Alliance Insurance fell by 4.88 per cent to 78k per share.
Veritas Kapital Assurance lost 3.57 per cent to close at N1.08, while RT Briscoe declined by 3.14 per cent to N9.25 per share.
In spite of the market’s recovery, trading activity weakened, with total volume declining by 20.12 per cent to 314.90 million shares.
The shares were traded in 30,956 transactions valued at N28.59 billion.
Access Corporation led trading by volume, exchanging 99.37 million shares, representing 31.55 per cent of the total volume traded.
Seplat Energy dominated trading by value, with transactions worth N14.46 billion, accounting for 50.58 per cent of the day’s total value.
