The Nigerian equities market resumed its bullish trend on Thursday, as investors gained N73 billion on renewed buying interest in selected stocks.
Renewed buying interest in some large- and mid-cap stocks, including International Energy Insurance, ABC Transport, Unilever Nigeria, Academy Press and 14 other equities, helped push the market back into positive territory.
Market capitalisation rose from N159.660 trillion to N159.733 trillion, representing an increase of N73 billion or 0.05 per cent.
Similarly, the All-Share Index advanced from 249,062.37 to 249,175.39, gaining 113.02 points, or 0.05 per cent.
Consequently, the Year-to-Date return improved to 60.13 per cent.
However, market breadth closed negative, with 44 losers compared to 19 gainers.
Berger Paints led the losers’ chart by 10 per cent, finishing at N147.60, Learn Africa trailed by 9.96 per cent, closing at N11.75 while Daar Communications shed by 9.95 per cent, ending the session at N1.90 per share.
RT Briscoe fell by 9.93 per cent, settling at N12.79 and May & Baker declined by 9.61 per cent, finishing at N46.55 per share.
Conversely, International Energy Insurance led the gainers’ chart by 10 per cent, closing at N3.41, ABC Transport followed by 9.93 per cent, settling at N9.08 and Unilever Nigeria gained by 9.80 per cent, finishing at N168 per share.
Also, Academy Press appreciated by 9.74 per cent, ending the session at N8.45 and Eunisell Interlinked grew by 9.41 per cent, closing at N209.95 per share.
The market activity closed higher for the day, with total traded volume rising by 76.39 per cent to 1.06 billion shares valued at N30.97 billion across 62,448 deals.
Meanwhile, Sterling Nigeria led the volume chart with 322.68 million shares traded, accounting for 30.48 per cent of the day’s total volume.
Aradel topped the value chart with transactions worth N5.06 billion, representing 16.35 per cent of the total value traded