Stock Market All-Share Index Rebounds Above 252,000 Points

The Nigerian stock market on Thursday recorded a positive turnaround as the All-Share Index recovered from its previous decline to trade above 252,000 points.

The Index gained 0.21 per cent to close at 252,366.80, while market capitalisation increased by N328 billion ato close at N163.859 trillion.

APT Securities & Funds Limited said, “overall, the session was characterized by mild bullish sentiment and exceptionally elevated trading turnover, as the market recorded a positive close alongside a substantial increase in market activity.”

Similarly, market breadth was positive as 21 stocks gained against 19 losers. Fidson Healthcare led gainers’ chart by 9.94 per cent to close at N91.80, per share. Sunu Assurance followed with a gain of 9.92 per cent to close at N2.88, while Champion Breweries appreciated by 9.85 per cent to close at N11.15, per share.

Caverton Offshore Support Group rose by 9.59 per cent to close at N4.00, while Fortis Global Insurance gained 9.42 per cent to close at N1.51, per share.

On the other hand, International Breweries led the losers’ chart by 7.18 per cent to close at N8.40, per share. Tantalizer followed with a decline of 6.67 per cent to close at N3.50, while Honeywell Flour Mills fell by 4.85 per cent to close at N31.40, per share.

Vitafoam Nigeria dropped by 4.66 per cent to close at N134.90, while Austin Laz & Company depreciated by 3.48 per cent to close at N2.22, per share.

Meanwhile, market participation was mixed as total trade volume declined for the second day by 4.56 per cent to 398.52 million shares, while total transaction value increased by 20.98 per cent to N27.62 billion.