Equities Market Rebounds As Investors Gain N72bn After Mid-week Loss

The Nigerian equities market on Wednesday rebounded from the previous day’s decline, as renewed buying interest in select medium and large-cap stocks lifted investors’ wealth by N72 billion.

The positive performance was driven by price gains in stocks such as Eunisell Interlinked Plc, Unilever Nigeria Plc, UAC of Nigeria (UACN), Zichis Agro Allied Industry, and The Initiates Plc (TIP), among others.

Consequently, the All-Share Index (ASI) rose by 113.02 points, representing a 0.05 per cent increase, to close at 249,175.39 points. Market capitalisation also advanced by N72 billion to settle at N159.733 trillion.

The market’s Month-to-Date and Year-to-Date returns improved to 2.8 per cent and 60.1 per cent, respectively, reflecting sustained overall bullish momentum despite intermittent profit-taking sessions.

Market breadth, however, closed negative, indicating mixed sentiment among investors. A total of 17 stocks recorded gains, while 43 equities declined during the trading session.

International Energy Insurance led the gainers’ chart with a 10 per cent rise to close at N3.41 per share. ABC Transport followed with a 9.93 per cent gain to close at N9.09, while Unilever Nigeria advanced by 9.80 per cent to N168.00 per share.

Academy Press gained 9.74 per cent to close at N8.45, while Eunisell Interlinked appreciated by 9.41 per cent to close at N209.95 per share.

On the losers’ side, Berger Paints topped the chart with a 10 per cent decline to close at N147.60 per share. Learn Africa fell by 9.96 per cent to N11.75, while Daar Communications dropped by 9.95 per cent to N1.90 per share.

R.T. Briscoe declined by 9.93 per cent to close at N12.79, while May & Baker Nigeria lost 9.61 per cent to close at N46.55 per share.

Total traded volume surged by 90.0 per cent to 1.06 billion units, valued at N30.97 billion, executed across 62,448 deals. Sterling Financial Holdings Company led activity with 322.685 million shares worth N2.575 billion.

Japaul Gold & Ventures followed with 96.390 million shares valued at N416.145 million, while Fidelity Bank traded 57.037 million shares worth N1.327 billion.

Access Holdings recorded 52.226 million shares valued at N1.321 billion, while Lasaco Assurance recorded 42.538 million shares valued at N86.735 million.

Analysts at Cowry Asset Management Limited noted that market sentiment remained cautious, with profit-taking and subdued participation expected to continue influencing short-term trading direction.