Stock market rebounds, up 0.37% as investors gain N216.83bn

BY TEMITOPE ADEBAYO

The equities market of the Nigerian Exchange Limited on Thursday recorded a notable rebound, gaining 37 basis points (bps) to close at 96,924.86 points.

This upward trend added N216.83 billion in value to the market, bringing market capitalisation to N58.73 trillion, while pushing the year-to-date (YTD) return to 29.62 per cent.

Key gainers that drove this positive performance included ARADEL, which surged by 10.00 per cent, ZENITHBANK with a 0.82 per cent gain, and ACCESSCORP, up by 1.24 per cent.

These gains helped offset losses from GTCO, FBNH, and UBA, which declined by 1.02 per cent, 1.45 per cent, and 1.74 per cent, respectively.

Trade activity strengthened significantly, with a 64.10 per cent increase in turnover compared to the previous session.

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Investors exchanged 744.5 million shares valued at N16.48 billion across 9,700 deals. JAPAULGOLD led in volume with 100.93 million shares traded despite a 2.26 per cent decline, while JBERGER led the value chart with trades worth N4.55 billion.

Market breadth closed strong, with advancing issues outnumbering decliners at a 1.76-to-1 ratio. ARADEL topped 29 gainers, while TANTALIZER led 16 laggards with a 6.25 per cent drop.

Yesterday’s rebound reflects renewed investor confidence, with gains in select stocks and increased trade turnover suggesting positive momentum.