The Nigerian Stock Exchange (NSE) rebounded on Thursday, recovering from the previous day’s losses as investors gained N117 billion.
The market capitalisation rose by 0.21 percent, closing at N55.4 trillion, while the all-share index increased to 96,407.88 points.
Trading volume surged by 117 percent, with 966.97 million shares worth N7.42 billion exchanged in 9,851 deals, marking a 64 percent rise in turnover.
Oando led the gainers with a 9.98 percent increase, closing at N69.95 per share. Julius Berger Nigeria and Cornerstone Insurance also saw significant gains of 9.97 percent and 9.88 percent, respectively.
On the other hand, SCOA Nigeria experienced the largest decline, dropping 9.79 percent to N1.75 per share. Japaul Gold and Ventures, Tantalizer, and Fidson Healthcare also recorded losses.
Consolidated Hallmark Holdings topped the trading volume, with 506 million shares changing hands, followed by FBN Holdings with 64.1 million shares and Access Holdings with 46.9 million shares.
This recovery comes after the Nigerian equity market lost N176 billion on Wednesday, reflecting investor confidence as the market bounced back strongly.