The Nigerian equities market staged a strong recovery, reversing its previous decline as investors recorded a gain of N3.205 trillion in market value.
At the close of trading, market capitalisation rose from N143.969 trillion to N147.174 trillion, representing a 2.23 per cent increase. Similarly, the All-Share Index advanced by 4,977.51 points to settle at 228,579.80, up from 223,602.29.
The latest rally further strengthened the market’s performance for the year, pushing the year-to-date return to an impressive 46.89 per cent.
Despite the overall positive performance, market breadth remained slightly negative, with 42 stocks declining compared to 39 gainers, indicating mixed investor sentiment beneath the surface of the rally.
On the gainers’ chart, Lafarge Africa Plc, Industrial and Medical Gases Nigeria Plc, and FTN Cocoa Processors Plc led the pack, each recording gains of approximately 10 per cent to close at N324.50, N39.60, and N5.50 per share, respectively.
Other notable performers included Austinlaz & Company Plc, which gained 9.71 per cent to close at N3.73, and Presco Plc, which rose by 9.52 per cent to finish at N2,300 per share.
On the downside, United Bank for Africa led the losers’ table with a 10 per cent decline to close at N44.55. It was followed by Trans-Nationwide Express Plc, which dropped by 9.99 per cent to N6.40.
Other decliners included National Salt Company of Nigeria Plc, which shed 9.18 per cent to close at N187.90, Jaiz Bank Plc, which fell by 8.98 per cent to N8.01, and Berger Paints Nigeria Plc, which declined by 8.66 per cent to settle at N68 per share.
Market activity showed a notable increase in both volume and value of transactions, although the number of deals declined. A total of 907.96 million shares valued at N68.23 billion were traded across 72,886 deals.
This marks a significant rise compared to the previous trading session, where 678.2 million shares worth N44.14 billion were exchanged in 82,838 transactions.
In terms of trading activity, Access Holdings Plc dominated the volume chart with 219.5 million shares worth N5.78 billion, while Nestlé Nigeria Plc led in value with transactions totaling N15.27 billion.
