The Nigerian equity market showed strong recovery on Thursday, adding N217 billion to investors’ portfolios. The positive momentum was largely fueled by significant gains in stocks such as Zenith Bank, Access Corporation, and Aradel Holdings.
The market capitalization rose by 0.37%, increasing from N58.515 trillion to N58.732 trillion. Similarly, the All-Share Index gained 0.37%, closing at 96,924.86 points, up from Wednesday’s 96,567.24 points.
This upward shift has brought the Year-To-Date (YTD) gain to 29.62%, with 33 stocks advancing while 17 declined. Conoil and Aradel Holdings led the gainers, each seeing a 10% rise in share prices, closing at N236.50 and N441.20, respectively. Eunisell also saw a notable increase of 9.42%, closing at N8.20, while JohnHolt and Thomas Wyatt Nigeria both experienced gains of over 9%.
On the flip side, Tantalizers topped the losers’ table with a 6.25% drop to 60k, followed by NGX Group, which fell by 5.81% to close at N23.50 per share. Wema Bank, RT Briscoe, and FCMB also saw declines, losing between 3.59% and 5.63%.
Market activity showed a significant uptick, with trade turnover rising by 64.10% from the previous session. A total of 744.5 million shares valued at N16.48 billion changed hands across 9,700 transactions, compared to 418.39 million shares worth N10.04 billion traded in the prior session.
Japaul Gold led in trade volume, with 100.93 million shares exchanged, while Julius Berger led in transaction value, totaling N4.55 billion.
