The Nigerian Exchange recorded its first gain in March as renewed investor interest drove the market capitalisation up by N216bn.
Following the day’s gain, the total market capitalisation of the equity market now stands at N66.9tn.
At the close of trading on Thursday, the All-Share Index rose by 344.24 points, or 0.32 per cent, to settle at 106,780.72 points. Despite this gain, the index still shows a one-week decline of 0.83 per cent. However, it maintains a four-week increase of 1.28 per cent and a year-to-date gain of 3.74 per cent, indicating overall market stability.
The trading session saw a total of 375.7 million shares valued at N10.18bn exchanged in 11,447 deals. This represented a four per cent decline in volume and a 10 per cent drop in turnover compared to the previous trading session on Wednesday.
A total of 128 stocks participated in the day’s trading, with 35 recording gains, 15 declining, and others remaining unchanged.
Transcorp Nigeria Plc led the gainer’s chart with a 9.98 per cent appreciation, closing at N51.80 per share. It was followed by SCOA Nigeria, which gained 9.88 per cent to settle at N3.78 per share. Other notable gainers included Africa Prudential, which advanced by 9.87 per cent to close at N30.60 per share, and Tantalizers, which rose by 9.72 per cent to N2.37 per share.
On the losing side, MRS Oil Nigeria, Red Star Express, and Sunu Assurances Nigeria emerged as the biggest losers, each shedding 10 per cent of their share price. MRS Oil closed at N166.50 per share, Red Star Express ended at N5.94 per share and Sunu Assurances finished at N4.77 per share. Lasaco Assurance also recorded a loss, declining by 7.99 per cent to close at N2.65 per share.
In terms of trading volume, the banking sector dominated activity. Guaranty Trust Holding recorded the highest number of shares traded, with 49.9 million units exchanged. Access Holdings followed with 43.9 million shares, while Zenith Bank and Fidelity Bank traded 36.5 million and 27.1 million shares, respectively.
A breakdown of sectoral performance showed mixed trends across key indices.
The Top 30 Index gained 0.42 per cent, reflecting increased interest in blue-chip stocks. The Pension Index climbed by 0.9 per cent, showing investor confidence in pension-related equities. The Banking Index appreciated by 0.83 per cent, driven by gains in major banking stocks, while the Consumer Goods Index advanced by 0.78 per cent, indicating positive momentum in consumer-driven stocks. The Premium Index, which tracks the most capitalised stocks, rose by 0.37 per cent, and the Main Board Index gained 0.3 per cent.
On Wednesday, the Nigerian Exchange continued its bearish run, with investors losing N289bn as the market capitalisation dropped to N66.7tn at the close of trading.