The Nigerian Exchange, NGX, recorded a rebound on Thursday as investors raked in a N306 billion gain after several days of losses.
This comes as market capitalisation, which opened at N58.969 trillion, rose by 0.50 per cent to close at N59.275 trillion.
Similarly, the All-Share Index gained 487.24 points, or 0.50 per cent, to settle at 97,783.81 compared to Wednesday’s 97,296.57.
This rally pushed the Year-To-Date (YTD) return up to 30.77 per cent.
The market’s recovery was driven by investor interest in Zenith Bank, United Bank for Africa (UBA), Access Corporation, Aradel, Oando Plc, and Dangote Sugar, among other stocks.
However, the market breadth remained negative with 30 losers against 28 gainers.
Prestige led by 10 per cent to close at 81k per share on the loser’s table, while Vitafoam led the gainers’ table by 9.81 per cent to close at N23.50 per share.
Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions increasing by 5.11 per cent.
632.74 million shares valued at N10.81 billion were exchanged in 8,404 deals, compared with 822.46 million shares valued at N10.29 billion traded in 9,385 deals, posted previously.
Meanwhile, FBN Holdings led the volume and value charts with 166.76 million shares worth N4.18 billion.
Media Talk Africa recalls that investors lost N208 billion on Wednesday.
