Investors at the Nigerian stock market on Thursday recorded a combined gain of N233 billion as renewed buying interest pushed the market into positive territory.
The upbeat performance followed increased demand for stocks such as RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 other equities.
As a result, total market capitalization rose by 0.22 percent to N105.969 trillion from N105.736 trillion recorded at the close of the previous trading session.
Similarly, the All-Share Index appreciated by 362.93 points, or 0.22 percent, to close at 165,527.31, up from 165,164.38 previously.
Market breadth also closed positive, with 41 gainers outweighing 27 losers.
RT Briscoe led the gainersā chart with a 10 percent increase to close at N7.15 per share. On the other hand, Haldane McCall topped the losersā table after shedding 9.84 percent to close at N3.94. Other decliners included Union Dicon Salt, University Press, Legend Internet, and Austinlaz.
Trading activity showed mixed performance, with volume rising by 10 percent, while value traded declined by seven percent and the number of deals fell by nine percent.
A total of 691.4 million shares valued at N15.4 billion were exchanged in 38,665 transactions, compared with 623.18 million shares worth N16.5 billion traded in 42,172 deals during the previous session.
Cutix emerged as the most actively traded stock by volume, with 144.62 million shares, accounting for 20.92 percent of total market volumeāmarking a departure from recent sessions dominated by banking stocks.
Aradel Holdings recorded the highest value of trades at N2.67 billion, representing 17.36 percent of the total value traded.
The positive performance of the Nigerian stock market came amid a downturn in major United States equities, including the S&P 500, Nasdaq, Microsoft, and other big stocks, which closed lower during the same period.
Investors at Nigerian Stock Market rank in N233bn single-day gain
Ā
