The equity market bounced back on Thursday, recouping from its previous day’s loss with a gain of N53 billion. The resurgence was driven by increased investor interest in prominent stocks, including Dangote Cement, FBN Holdings, Guaranty Trust Holding Company (GTCO), and Fidelity Bank, among other advancing equities.
The market capitalisation increased by N53 billion, or 0.09 per cent rising from N62.257 trillion at the opening to N62.310 trillion at the close.Similarly, the All-Share Index, ASI, advanced by 0.09 per cent, gaining 87.11 points to close at 102,183.06, compared to 102,095.95 reported on Wednesday.
This performance brought the Year-To-Date, YTD, return to 0.72 per cent.However, in spite the gains, the market breadth closed negative, with 35 gainers against 26 losers.On the losers’ chart, Livestock Feeds led by 60k to close at N5.40, Eunisell trailed by N1.73 to close at N15.63 per share.
Neimeth International Pharmaceutical and Regal Insurance lost 7k each to close at N3.12 and 68k per share respectively, while Honeywell Flour shed 94k to close at N9.21 per share.Conversely, North Nigerian Flour Mill led the gainers table by N4.95 to close at N54.45, Dangote Sugar followed by N3.65 to close at N40.50 per share.
John Holt gained 83k to close at N9.30, The Initiate Plc added 25k to close at N2.80 and Omatek went up by 8k to close at 90k per share.Trade turnover settled higher relative to the previous session, with the value of transactions up by 76.82 per cent.
A total of 472.16 million shares valued at N16.70 billion were exchanged in 12,336 deals, compared with 435.54 million shares valued at N9.44 billion traded in 12,098 deals, posted in the previous session.Meanwhile, GTCO led the activity chart in volume and value with 65.05 million shares worth N3.77 billion
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