Investors gain N26bn in single day as NGX records rebound

On Thursday, investors gained N26 billion on the Nigerian Exchange Limited (NGX), marking a return to positive market sentiment.

The market capitalization, which opened at N55.494 trillion, saw an increase of N26 billion or 0.05 per cent to close at N55.520 trillion.

Similarly, the All-Share Index rose by 0.05 per cent or 48 points to close at 98,169.30, up from 98,121.30 recorded on Wednesday, pushing the Year-To-Date (YTD) return to 31.29 per cent.

Market breadth ended negative with 24 declining equities and 16 advancing others on the exchange floor.

Among the gainers, Transcorp Hotel led by 9.75 per cent, closing at N96.50, followed by Livestock Feed Plc with a 9.42 per cent increase to close at N1.51 per share.

Other gainers include Tantalizers, up by 9.38 per cent to close at 35k, Sunu Assurances at a 7.44 per cent rise to close at N1.30, and Wapic Insurance gaining 6.15 per cent to close at 69k per share.

On the losing side, Sterling Nigeria saw a decline of 9.69 per cent to close at N3.82, while Computer Warehouse Group fell by 9.57 per cent to close at N5.20 per share.

International Energy Insurance lost 9.30 per cent to close at N1.17, The Initiative Plc declined by 9.09 per cent closing at N1.80, and Omatek dropped by 8.43 per cent to close at 76k per share.

Trade turnover decreased relative to the previous session, with the value of transactions down by 31.95 per cent.

A total of 297.20 million shares valued at N6.52 billion were exchanged in 7,417 deals, compared to 395.75 million shares valued at N9.58 billion exchanged in 7,907 deals previously.

Zenith Bank led in volume and value with 48.49 million shares worth N1.77 billion, followed by Access Corporation with 39.88 million shares valued at N639.98 million.

Other active traders included Transnational Corporation with 28.47 million shares valued at N397.34 million, UBA traded 22.94 million shares worth N523.55 million, and Nigerian Breweries transacted 20.29 million shares valued at N560.16 million.

Recently, NGX had seen declines in the market for two consecutive days.