The Nigerian equity market made a notable recovery on Tuesday, gaining ₦67 billion after enduring six consecutive days of losses that resulted in a significant ₦1.6 trillion decline. This boost led to a 0.12 percent increase in the All Share Index, which settled at 95,895.92 points, up from the previous close of 95,781.68 points.
Market capitalization also saw a rise, reaching ₦54.448 trillion, in line with the day’s gains. The trading session reported a substantial turnover of 1.01 billion shares traded across 8,295 deals, amounting to ₦7.69 billion.
Despite the uptick, the year-to-date growth remains at 28.62 percent, while month-to-date and week-to-date figures reflect declines of 1.93 percent and 1.24 percent, respectively. The market breadth reflected a negative outlook with 19 equities gaining ground while 24 recorded losses.
Leading gainers included Learn Africa, which closed at ₦3.87 per share, marking a 9.94 percent increase, followed by Oando at ₦43.30 (up 9.90 percent), Cutix at ₦2.90 (up 9.85 percent), RT Briscoe at ₦2.05 (up 9.63 percent), UPL at ₦2.66 (up 8.57 percent), and Tantalizer at ₦0.52 (up 8.33 percent).
Conversely, the top losers were Thomas Wyatt, seeing a share price drop of 9.71 percent to ₦1.58; Omatek Ventures at ₦0.68 (-6.85 percent); FTN Cocoa Processors at ₦1.92 (-6.80 percent); Neimeth International Pharmaceutical at ₦1.90 (-5.00 percent); The Initiate Plc at ₦2.15 (-4.44 percent); and Japaul Gold at ₦2.20 (-4.35 percent).
In summary, the trading day concluded with a total exchange of 1.01 billion shares across 8,295 deals, reflecting a market value of ₦7.69 billion. Notably, the volume traded surged by 150 percent compared to the prior day, although the number of deals decreased by 11 percent.
Jaiz Bank led the trading volume with 651 million shares, trailed by Sterling Bank at 53.9 million, International Breweries at 28.4 million, and FCMB Group at 21.9 million.
