Equity market rebounds with N8bn gain
The Nigerian equity market rebounded on Tuesday, as market capitalisation added N8bn to close at N59.2tn. The All-Share Index inched up by 13.61 points or 0.01 per cent to settle at 97,639.88.
Despite the marginal gain, the index reflected a one-week loss of 0.34 per cent, a four-week loss of 0.43 per cent, but a year-to-date gain of 30.58 per cent.
A total of 552.1m shares worth N8.03bn were exchanged in 9,305 deals, representing an 18 per cent decline in volume, a 25 per cent drop in turnover, and an 11 per cent reduction in deals compared to the previous trading session.
Market breadth closed negative as 24 stocks gained while 25 declined. Leading the gainers was Haldane McCall, which appreciated by 9.98 per cent to close at N6.17 per share. Sunu Assurances followed with a 9.8 per cent gain to N1.68, Japaul Gold and Ventures advanced by 9.72 per cent to N1.13, and Prestige Assurance rose by 9.64 per cent to close at N0.91 per share.
On the losing side, Multiverse Mining and Exploration dropped 9.92 per cent to close at N5.90 per share. Tantalizers shed 9.3 per cent to N0.39, UPDC Real Estate Investment Trust declined by 9.01 per cent to N3.03, and Universal Insurance lost 5.88 per cent to close at N0.16
Haldane McCall recorded the highest trading volume, with 177m shares exchanged. Tantalizers followed with 37m shares, United Bank for Africa traded 29.6m shares, while Prestige Assurance transacted 28.6m shares.
Among the sectoral indices, the Insurance Index outperformed with a 0.91 per cent increase, bringing its year-to-date gain to 52.26 per cent. The Industrial Index rose by 0.76 per cent (1.14 per cent one-week gain; 29.99 per cent year to date). The Oil & Gas Index appreciated by 0.36 per cent, extending its year-to-date growth to 133.09 per cent.
Other notable indices included the Consumer Goods Index, which rose by 0.09 per cent, contributing to a 42.39 per cent YTD gain, and the Premium Index, which gained 0.09 per cent but reflected a 0.54 per cent one-week loss and a 27.22 per cent YTD gain.
The NGX Top 30 Index closed 0.04 per cent higher, with a 31.6 per cent YTD gain but a 0.42 per cent one-week loss.
On Monday, the Nigerian Stock Exchange resumed trading this week with a N123bn loss in market capitalisation, closing at N59.17tn. The All-Share Index declined by 0.21 per cent, closing at 97,626.27.
Also, on Monday, a total of 671,260,264 shares were traded in 10,464 deals, valued at N10.64bn. This marks an 83 per cent increase in volume, 75 per cent in turnover, and 8 per cent in deals compared to the previous trading day.
