The Nigerian stock market rebounded with a capitalization increase of N60 billion, driven by investors’ strong demand for MTN Nigeria Communications Plc and 36 other stocks. The Nigerian Exchange Limited All-Share Index (NGX ASI) rose by 0.10% to close at 98,206.97 basis points, while the market’s Month-to-Date and Year-to-Date returns stood at 0.7% and 31.3%, respectively. Key sectors, including Insurance and Oil & Gas, recorded gains, although Banking and Industrial Goods indices experienced minor losses.
Investor sentiment remained mixed, with 37 gainers outweighing 21 losers. Among top performers, Golden Guinea Breweries surged by 9.93%, while Guinea Insurance and Tantalizer gained 9.80% and 9.77%, respectively. Conversely, John Holt led the laggards with a 9.96% decline, followed by Haldane McCall and Morison Industries, which fell by over 9% each. Despite some losses, MTN Nigeria gained 3.5%, bolstering market performance.
Trading activity was robust, with a total volume of 939.409 million shares, up by 115.4%, valued at N12.814 billion across 9,098 deals. Wapic Insurance dominated trading with 457.640 million shares, while MTNN recorded the highest trade value of N4.321 billion. Other active stocks included Sterling Financial Holdings and Japaul Gold & Ventures, contributing to the day’s strong performance.