With a gain of N54 billion on Thursday, the Nigerian equity market halted a three-day losing skid, bringing the market capitalization to N62.3 trillion.
Improved trading activity propelled the rebound; compared to the previous trading session, the market saw a 9% increase in volume, a 113% increase in turnover, and a 2% increase in deals.
The All-Share Index closed at 102,183.06, up 87.11 points, or 0.09 percent. The index has lost 3.17 percent on a weekly basis, although it has gained 2.26 percent over the last four weeks and lost 0.72 percent so far this year.
The market capitalization of the Nigerian Stock Exchange fell by N51 billion on Monday, finishing at N64.3 trillion.
The market capitalization of the Nigerian Stock Exchange fell by N1.06 trillion at the end of trading on Tuesday, indicating a bearish performance.
The equities market saw a drop at the end of Wednesday’s trading session on the Nigerian Stock Exchange, losing N930.62 billion, the third straight loss.
In addition, 12,336 transactions involving 467.16 million shares valued at N14.75 billion took place on Thursday. With 65.1 million shares traded, Guaranty Trust Holding was the most active company on the activity chart. Universal Insurance Company (48.5 million), Fidelity Bank (45.9 million), and Access Holdings (27.3 million) were next in line.
The largest gainer was Northern Nigeria Flour Mills, which closed at N54.45 per share after increasing by 10%. After that, Dangote Sugar Refinery closed at N40.50 per share, up 9.91 percent. Both John Holt and The Initiates closed at N9.30 and N2.80 per share, respectively, after gaining 9.8%.
Livestock Feeds was the biggest loser, closing at N5.40 per share following a 10% decrease. Neimeth International Pharma down 9.83 percent to N3.12, while Eunisell Interlinked closed at N15.62, down 9.97 percent. Additionally, Regency Alliance Insurance had a drop, finishing at N0.68 per share, representing a 9.33% loss.
Despite a 0.41 percent increase, the Top 30 Index saw a 3.24 percent weekly loss and a 0.73 percent year-to-date loss. Although it had the largest daily rise of 1.39 percent, the Industrial Index was still down 8.19 percent for the week and 8.15 percent so far this year.
The performance of other indexes was equally varied. For example, the Banking Index saw a rise of 0.22 percent, increasing its year-to-date gain to 3.07 percent, while the Pension Index saw a decline of 0.12 percent but ended the year with 1.82 percent growth.
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