Investors at Nigerian Stock Market rank in N233bn single-day gain

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On Thursday, investors in the Nigerian stock market experienced a total gain of N233 billion, as a resurgence of buying interest propelled the market into positive territory.

The positive performance came after a rise in demand for shares like RT Briscoe, SCOA, Deap Capital, Veritas Kapital Assurance, Zichis Agro Allied Industries, and 36 additional equities.

Consequently, the total market capitalization increased by 0.22 percent to N105.969 trillion, up from the N105.736 trillion recorded at the end of the previous trading session.

In the same vein, the All-Share Index rose by 362.93 points (0.22 percent), finishing at 165,527.31, an increase from its prior value of 165,164.38.

The market breadth ended on a positive note as 41 stocks advanced compared to 27 that declined.

RT Briscoe topped the gainers’ list, rising by 10 percent to finish at N7.15 per share. In contrast, Haldane McCall ended up at the top of the losers’ table after a decline of 9.84 percent, finishing at N3.94. Other companies that saw declines included Union Dicon Salt, University Press, Legend Internet, and Austinlaz.

Trading activity exhibited a mixed performance: volume increased by 10 percent, whereas the value traded decreased by 7 percent and the number of deals dropped by 9 percent.

During the previous session, 623.18 million shares worth N16.5 billion were traded in 42,172 deals, while a total of 691.4 million shares valued at N15.4 billion were exchanged in 38,665 transactions.

Cutix became the stock with the highest trading volume, totaling 144.62 million shares and representing 20.92 percent of the overall market volume—signifying a shift from recent sessions led by banking stocks.

Aradel Holdings logged trades worth N2.67 billion, the highest value, which accounted for 17.36 percent of the total trade value.

While the Nigerian stock market performed positively, major U.S. equities experienced a downturn, with the S&P 500, Nasdaq, Microsoft, and other prominent stocks closing lower during the same timeframe.

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