The Nigerian stock market bounced back on Thursday, bringing relief to investors after two days of losses. The Nigerian Exchange (NGX) saw a rise of 0.12% in key performance indicators, leading to a market capitalization increase of N82 billion. This recovery was driven by renewed investor interest in undervalued medium and small-cap stocks.
The All-Share Index (ASI) rose by 130.24 points, closing at 106,220.62. This suggests a positive shift in investor sentiment, with hopes of further gains in the short term.
However, market activities showed mixed trends. While the total volume of shares traded fell by 77.2%, the total value of transactions surged by 62.34%. According to Atlass Portfolios Limited, approximately 341.71 million shares worth ₦16.65 billion were exchanged in 11,233 deals.
Top Performers
- Most Traded by Volume: TANTALIZER (8.68% of total trades), followed by ACCESSCORP (8.55%), ZENITHBANK (8.42%), GTCO (7.82%), and UNIVINSURE (6.14%).
- Most Traded by Value: GEREGU led with 46.64% of total transaction value.
- Biggest Gainers: UPDC (+9.92%), INTBREW (+9.62%), ROYALEX (+9.59%), MULTIVERSE (+8.81%), NGXGROUP (+6.14%).
- Biggest Losers: UPL (-10.00%), ACADEMY (-9.66%), REDSTAREX (-9.32%), CILEASING (-4.75%), DANGSUGAR (-2.06%), GTCO (-1.79%).
Market breadth was positive, with 35 stocks gaining value compared to 20 decliners. Sector-wise, most indices recorded gains, except for the banking sector, which fell by 0.50% due to profit-taking in GTCO (-1.79%). Consumer Goods, Insurance, and Oil & Gas sectors saw modest gains, driven by price increases in INTBREW, CORNERST, and OANDO.
With this market rebound, analysts expect continued fluctuations as investors seek value in overlooked stocks.
 saw...){kind=link}