KEY POINTS
- Market capitalisation rose by ₦209 billion to ₦161.260 trillion.
- The All Share Index gained 0.13 per cent to close at 248,363.55 points.
- Market breadth remained negative, with 31 decliners against 22 advancers.
- Trading volume fell by 34.57 per cent to 322.04 million shares.
- Zenith Bank led trading by volume and value, with ₦4.30 billion worth of shares traded.
MAIN STORY
The Nigerian stock market rebounded on Friday after seven consecutive sessions of losses, adding ₦209 billion to investors’ wealth as market capitalisation increased by 0.13 per cent.
Market capitalisation rose to ₦161.260 trillion from ₦161.051 trillion in the previous session, while the All Share Index advanced by 321.05 points to close at 248,363.55 points, up from 248,042.50 points.
The recovery lifted the market’s year to date return to 59.60 per cent.
Despite the gain, market breadth remained negative, as 31 stocks declined against 22 that advanced.
Red Star Express led the gainers, rising by 9.76 per cent to close at ₦13.40 per share. Fidelity Bank followed with an 8.70 per cent increase to ₦21, while Daar Communications gained eight per cent to close at ₦1.38.
WAPIC rose by 7.26 per cent to ₦2.30, while Omatek appreciated by 6.94 per cent to ₦1.34 per share.
On the losing side, Regency Alliance Insurance recorded the largest decline, falling by 10 per cent to 77 kobo per share. Livestock Feeds dropped by 9.58 per cent to ₦13.15, while Guinea Insurance lost 9.41 per cent to close at 93 kobo.
CAP declined by 8.50 per cent to ₦108.50, while UPDC shed 7.69 per cent to close at ₦4.20 per share.
Trading activity weakened during the session, with total volume falling by 34.57 per cent to 322.04 million shares. The shares were traded in 37,810 deals valued at ₦20.50 billion.
Zenith Bank led activity by both volume and value, recording 31.69 million shares worth ₦4.30 billion. Its transactions represented 9.84 per cent of total volume and 20.96 per cent of the total value traded.
THE ISSUES
The rebound ended a seven session losing streak, but the negative market breadth suggests that the recovery was not broad based. More stocks declined than advanced, meaning the overall market gain did not reflect the performance of most listed companies.
The fall in trading volume also points to reduced activity compared with the previous session. Although the market added value, the decline in volume indicates that fewer shares changed hands during the day.
For investors, the distinction matters: a positive index close does not necessarily mean that most portfolios recovered. Individual returns depend on the stocks held and their price movements.
WHAT’S NEXT
Investors will watch whether the market sustains its recovery in subsequent sessions, particularly whether more stocks begin to advance and trading activity strengthens.
BOTTOM LINE
The Nigerian stock market gained ₦209 billion on Friday, ending seven sessions of losses, but declining market breadth and lower trading volume suggest the recovery was limited.
