Nigeria’s equities market rebounded on Thursday, rising by 0.32 percent after three consecutive days of losses.
The market recorded its first gain of the month as investors actively bought shares in companies such as Transcorp, Africa Prudential, SCOA, and other major gainers.
Many investors entered Custom Street in search of attractively priced stocks following a series of negative trading sessions earlier in the week.
Transcorp led the gainers, climbing from N47.10 to N51.80, an increase of N4.70 or 9.98 percent. It was followed by SCOA, which rose from N3.44 to N3.78, up by 34 kobo or 9.88 percent.
Similarly, Africa Prudential advanced from N27.85 to N30.60, adding N2.75 or 9.87 percent.
Tantalizer also saw an increase, rising from the previous trading day’s low of N2.16 to N2.37, gaining 21 kobo or 9.72 percent, while Caverton moved from N2.52 to N2.76, an increase of 24 kobo or 9.52 percent.
At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and market capitalisation increased from the previous day’s levels of 106,436.48 points and N66.653 trillion to 106,780.72 points and N66.868 trillion, respectively.
Despite the market’s decline of 0.97 percent this month, its year-to-date (YtD) return improved to 3.74 percent by the close of trading.
Stocks such as GTCO, Access Holdings, Zenith Bank, Fidelity Bank, and United Bank for Africa were actively traded.
Investors exchanged 375,725,297 shares worth N10.185 billion in 11,447 deals.
