The Nigerian stock market experienced a slight rebound on Wednesday, gaining N20 billion after a previous day of losses. The market’s positive performance was largely driven by renewed investor interest in several key stocks.
The market capitalization increased by N20 billion, closing at N93.776 trillion compared to the opening value of N93.756 trillion. This upward trend was mirrored in the All-Share Index, which rose by 0.20 percent or 31.27 points to finish at 147,742.23. The market breadth was positive, with 34 stocks recording gains and 28 experiencing losses.
Skye Shelter Fund led the gainers’ table with a 9.88 percent increase, closing at N418.75. Royal Exchange followed with a 7.37 percent gain, settling at N2.33, while International Energy Insurance rose by 6.05 percent to N2.98 per share. Other notable gainers included Julius Berger, which increased by 5.51 percent to N134, and Omatek Ventures, which soared by 4.90 percent to N1.50 per share.
On the other hand, Tripple Gee led the losers’ table with a 9.91 percent decline, closing at N4.91. Industrial and Medical Gases followed with a 9.87 percent drop, finishing at N32.40, while UAC of Nigeria fell by 6.46 percent to N68 per share. Ellah Lakes and Ja Paul Gold also experienced significant losses, dipping by 4.66 percent and 4.51 percent, respectively.
Market activity showed a notable improvement in volume, value, and deals, with 389.1 million shares valued at N12.5 billion traded across 23,017 transactions. This represents a significant increase from the previous day’s transactions, which saw 262.5 million shares worth N8.3 billion exchanged across 16,693 transactions. Fidelity Bank, CHAMS, Zenith Bank, Access Corporation, and FirstHoldCo were among the most actively traded stocks.
The slight rebound in the Nigerian stock market may indicate a return of investor confidence, driven by interest in key stocks. As the market continues to evolve, it is essential to monitor trends and activity to understand the overall trajectory of the economy. With the market’s positive performance, investors will be watching closely to see if this trend continues in the coming days.