Nigerian stock market rebounds from bearish run

The Nigerian capital market recovered from its previous day’s losses following a 1.05% rise in share value at the close of trading on Thursday.

After eight straight hours of trading on the floor of the capital market, the equity capitalisation rose by N298.74 billion to close at N28.72 trillion, up from N28.42 trillion posted on Wednesday.

Similarly, the All-Share Index was up by 554.15 basis points to settle at 53,275.49 compared to 52,721.34 achieved the previous day.

Investors traded 274.55 billion shares worth N8.44 billion in 5,184 deals on Thursday.

This however fell short of 611.97 million shares valued at N7.42 billion which exchanged hands in 5,948 deals on Wednesday. Transcohot led the gainers with N0.53kobo to rise from N5.36kobo to N5.89kobo per share.

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Beta Glass’ share was up by N5.55kobo to move from N57 to N62.55kobo per share. McNichols gained N0.17kobo to move from N1.77kobo to N1.94kobo per share.

Veritas Kapital’s share appreciated by 9.52 percent to end trading with N0.23kobo from N0.21kobo per share. Multiverse recorded a 9.09 percent increase in share value to close at N0.24kobo from N0.22kobo per share.

Meanwhile, Conoil topped the losers’ chart after shedding N3.15kobo to drop from N31.50kobo to N28.35kobo per share.

Eterna’s share dropped by N0.70kobo to end trading at N6.60kobo from N7.30kobo per share. Prestige’s share price was down by 9.09 percent to end trading with N0.40kobo from N0.44kobo per share.

Chams’ share depreciated from N0.24kobo to N0.22kobo per share after losing 8.33 percent during trading.

Royal Exchange lost N0.10kobo to drop from N1.36kobo to N1.26kobo per share. Transcorp led the day’s trading with 48.38 million shares valued at N61.4 million. MTN Nigeria followed with 20.60 million shares valued at N5.49 billion.

Conoil traded 14.34 million shares worth N409.10 million. GTCO sold 13.72 million shares worth N328.08 million, while First Bank Holdings traded 13.53 million valued at N162.45 million.