Investors at the Nigerian Stock Exchange on Thursday saw a combined gain of N233 billion, as renewed buying interest propelled the market into positive territory.
The upbeat performance followed increased demand for stocks such as RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities.
As a result, total market capitalization rose by 0.22 percent to N105.969 trillion from N105.736 trillion recorded at the close of the previous trading session.
Similarly, the All-Share Index appreciated by 362.93 points, or 0.22 percent, to close at 165,527.31, up from 165,164.38 previously.
Market breadth also closed positive, with 41 gainers outweighing 27 losers.
RT Briscoe led the gainers’ chart with a 10 percent increase to close at N7.15 per share. On the other hand, Haldane McCall topped the losers’ table after shedding 9.84 percent to close at N3.94. Other decliners included Union Dicon Salt, University Press, Legend Internet, and Austinlaz.
Trading activity showed mixed performance, with volume rising by 10 percent, while value traded declined by seven percent and the number of deals fell by nine percent.
A total of 691.4 million shares valued at N15.4 billion were exchanged in 38,665 transactions, compared with 623.18 million shares worth N16.5 billion traded in 42,172 deals during the previous session.
Cutix led trading activity by volume, with 144.62 million shares exchanged, making up 20.92 percent of total market volume—a shift from recent sessions dominated by banking stocks.
Aradel Holdings recorded the highest trade value at N2.67 billion, accounting for 17.36 percent of the total value traded.
The upbeat performance of the Nigerian stock market stood in contrast to major U.S. equities, as the S&P 500, Nasdaq, Microsoft, and other leading stocks closed lower during the same period.
