The Nigerian equity market staged a strong rebound on Thursday, recovering N694 billion after a week of losses as investors returned to the market. The NGX All-Share Index rose by 1,088.61 points, or 0.74 per cent, closing at 147,950.59 and lifting the market’s year-to-date gain to 43.74 per cent. Analysts say this resurgence highlights growing investor confidence following recent market volatility.
Sectoral performance was led by the NGX Insurance Index, which surged 2.99 per cent, followed by the NGX Premium Index up 1.39 per cent, and the NGX Consumer Goods Index, which gained 1.15 per cent. These gains indicate that investors are increasingly focusing on stable, high-demand sectors, particularly insurance, consumer goods, and telecommunications.
Market activity recorded 529.7 million shares exchanged in 18,140 deals valued at over N12.3 billion. Although trading volume fell 29 per cent and the number of deals dropped five per cent compared to the previous session, investors concentrated on high-liquidity stocks, reflecting a more cautious but targeted investment approach.
Access Holdings led trading volume with 156.3 million shares valued at N3.16 billion, followed by FCMB, Fidelity Bank, Japaul Gold and Ventures, and Zenith Bank. In terms of value, Access Holdings also topped the list, with Zenith Bank, MTN Nigeria, FCMB, and Fidelity Bank rounding out the most actively traded stocks. Berger Paints emerged as the top gainer, climbing 9.88 per cent to N40.05 per share, alongside Japaul Gold and Ventures, Morison Industries, and PZ Cussons.
On the downside, John Holt recorded the largest decline, falling 9.26 per cent to N4.90 per share, while Champion Breweries, Eterna, and VFD Group also posted losses. Analysts believe the rebound reflects renewed optimism among retail investors, who are increasingly drawn to insurance, consumer goods, and telecommunications stocks as the market stabilizes.
source: punch