Following the two-day holiday declared by the Federal Government to celebrate this year’s Eid-El-Kabir, the stock market resumed on Thursday on a positive note as equities investors gained N198 billion.
The domestic bourse had recorded a bearish performance on Monday as the market capitalisation shed N219 billion to close at N12.66 trillion before the holiday.
But the market rebounded on Thursday as the benchmark index of the Nigerian Stock Exchange (NSE), All-Share Index (ASI), rose by 157 basis points to close at 35,206.16 points from 34,663.48 points recorded on the first trading session of the week.
Specifically, the market capitalisation appreciated to N12.85 trillion from N12.65 trillion, while the year-to-date losses of the ASI stood at 7.99 percent.
However, market breadth weakened as 25 stocks declined as against 11 that gained. The volume of stocks traded at the exchange rose by 0,1 percent, while the value of the stocks fell by 20.59 percent.
A total of volume of 210.71 million stocks valued at N2.53 billion were exchanged in 3,287 deals as against total of 220.49 million stocks worth N3.19 billion traded in 3,054 deals on Monday.
Wapic Insurance was the highest gainer today rising by 8.82 percent to close at 37 Kobo per share. Veritas Kapital Assurance trailed with 7.69 percent gain to close at 28 Kobo per share, while Dangote Cement appreciated by 6.98 percent to close at N230 per share.
Dangote Flour garnered 6.49 percent to close at N8.20 per share, while Oando rose by 5.26 percent to close at N5 per share.
On the other hand, Livestock Feeds led the laggards by shedding 9.84 percent to close at 55 Kobo per share. Red Star Express followed by dropping 9.65 percent to close at N5.15 per share, while Jaiz Bank lost 9.43 percent to close at 48 Kobo per share.
Equity Assurance depreciated by 9.09 percent to close at 20 Kobo per share, while Secure Electronic Technology fell by 8.70 percent to close at 21 Kobo per share.
United Bank for Africa emerged the most traded stock as total turnover hit 54.33 million volume of shares valued at N436.11 million. Zenith Bank followed with a volume of 25.99 million shares worth N571.42 million, while FBN Holdings recorded a volume of 14.19 million shares valued at N138.64 million.