The Nigerian stock market experienced a positive turnaround as key indices rebounded by 0.32%, driven by price appreciation in medium and large-capitalized stocks.
The Nigerian Exchange Ltd. (NGX) saw its market capitalization rise by N215 billion to N66.868 trillion, up from N66.653 trillion.
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Similarly, the All-Share Index increased by 344 points, closing at 106,780.72 compared to the previous 106,436.48.
This uptrend was largely attributed to gains in companies such as Transnational Corporation, Guinness, and Dangote Sugar.
The market breadth closed positive, with 36 gainers against 15 losers, indicating a broad-based recovery across various sectors.
Leading the gainers’ chart, Transnational Corporation’s stock surged by 9.98% to close at N51.80 per share.
Other notable gainers included SCOA Nigeria, which increased by 9.88% to N3.78 per share, and Africa Prudential, rising by 9.87% to N30.60.
Tantalizer and Caverton Offshore Support Group also posted significant gains, appreciating by 9.52% and 9.09%, respectively.
Conversely, some stocks faced declines. Sunu Assurance, MRS Nigeria Ltd., and Red Star Express each led the losers’ table with a 10% drop, closing at N4.77, N166.50, and N5.94 per share, respectively.
Lasaco Assurance and UPDC Real Estate Investment Trust also recorded losses, decreasing by 7.99% and 6.76%, respectively.
The trading session concluded with a total of 375.73 million shares exchanged, valued at N10.185 billion across 11,447 transactions.
Guaranty Trust Holding Company topped the activity chart, trading 49.9 million shares worth N2.91 billion.
Access Corporation and Zenith Bank followed, with 43.8 million shares valued at N1.03 billion and 36.5 million shares worth N1.72 billion, respectively.