The stock market reversed losses by 0.20 per cent on Thursday, recording N328 billion gain for investors, after two consecutive sessions of losses.
The uptrend was driven by improved bargain hunting and renewed investors interest in stocks like: Fidson, Sunu Assurances, Champion Breweries, Fortis Global Insurance, Caverton Offshore Support Group and 21 other stocks.
Specifically, the market capitalisation, which opened at N163.531 trillion, added N328 billion to close at N163.859 trillion.
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Similarly, the All-Share Index soared by 0.20 per cent or 505.56 points, settling at 252,366.80 compared with 251,861.24 recorded on Wednesday.
This led the market’s Year-to-Date return to an appreciation of 62.18 per cent, while the market breadth closed positive with 26 gainers and 21 losers.
Fidson led the gainers’ chart by 9.94 per cent, settling at N91.80, Sunu Assurances followed by 9.92 per cent, finishing at N2.88, while Champion Breweries climbed by 9.85 per cent, closing at N11.15 per share.
Similarly, Caverton Offshore Support Group grew by 9.59 per cent, ending the session at N4. and Fortis Global Insurance appreciated by 9.42 per cent, settling at N1.51 per share.
On the other hand, International Breweries led the losers’ chart by 7.18 per cent, closing at N8.40, Tantalizers trailed by 6.67 per cent, finishing at N3.50, while Honeywell Flour declined by 4.85 per cent, ending the session at N31.40 per share.
Also, Vitafoam shed by 4.66 per cent, settling at N134.90, and UPDCREIT dropped by 3.74 per cent, closing at N19.30 per share.
Market activity picked up sharply, with total volume surging 596.70 per cent to 2.91 billion shares, worth N78.66bn across 28,318 deals.
Livestock Feeds led by volume with 2.20 billion shares changing hands, while Fitst Holdco led by value at N32.40bn.(
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