Equities market recovers with N81bn gain

The Nigerian equities market rebounded from the previous day’s losses, recording a modest gain of ¦ 81 billion for investors by the close of trading on Thursday.

This recovery was driven by an increase in the share prices of stocks such as UPDC, International Breweries, and Royal Exchange (Royalex), among others, on the trading floor.

After five hours of trading, the market’s equity capitalisation climbed to ¦ 66.5 trillion, up from the ¦ 66.4 trillion recorded on Wednesday.

Similarly, the benchmark All-Share Index (ASI) rose to 106,220.62 points from the previous day’s 106,090.38 points.

Market sentiment remained positive, with 35 stocks appreciating in value, 20 declining, and 64 remaining unchanged across 11,233 transactions.

UPDC, International Breweries, and Royalex led the gainers’ chart with increases of 9.92%, 9.62%, and 9.59%, respectively, closing at ¦ 2.77, ¦ 5.70, and ¦ 0.80 per share, compared to their previous prices of ¦ 2.52, ¦ 5.20, and ¦ 0.73.

On the other hand, UPL, Academy Press, and Red Star Express recorded the highest losses, with their share prices dropping by 10%, 9.66%, and 9.32%, respectively. UPL closed at ¦ 4.32 from ¦ 4.80, Academy Press declined to ¦ 2.62 from ¦ 2.90, and Red Star Express fell to ¦ 5.35 from ¦ 5.90 per share.

In terms of trading volume, Tantalizer led the chart with 29 million shares traded in 509 deals, followed by Access Corporation, which exchanged 29 million shares in 687 deals. Zenith Bank also saw significant activity, with 28 million shares traded in 571 deals.

On the value index, Geregu recorded the highest transaction value, trading stocks worth ¦ 7.7 billion in 121 deals. It was followed by Aradel, which traded equities worth ¦ 1.6 billion in 251 deals, while GTCO recorded ¦ 1.6 billion in share transactions across 387 deals.