Nigeria’s stock market rebounded on Tuesday by N5 billion, ending six days of consecutive losses.
Market capitalization grew by five billion or 0.02 per cent to close at N21.925 trillion, up from N21.920 trillion.
Furthermore, the All-Share Index improved by 9.42 points or 0.02 points to close at 42,018.02 from 42,008.60 recorded on Monday.
The month-to-date loss moderated to 2.8 per cent, while the year-to-date return was unchanged at 4.3 per cent.
The upturn was driven by gains in large and medium capitalised stocks, including Lafarge Africa, Zenith Bank, Guaranty Trust Holdings Company (GTCO), Guinness Nigeria, and NEM Insurance.
Market breadth was positive with 20 gainers versus 19 losers.
Abbey Mortgage Bank led the gainers’ chart in percentage terms by 9.47 per cent to close at N1.04 per share.
Meyer followed with 8.33 per cent to close at 26k, while NEM Insurance closed at N2.42 per share with 7.56 per cent.
The share price of Academy Press increased by 7.14 per cent to close at 45k, and Royal Exchange rose by 6.90 per cent to close at 62k.
GlaxoSmithKline Consumer Nigeria led the losers’ chart in percentage terms by 9.32 per cent to close at N5.35 per share.
Seplat Energy closed at N615, while Jaiz Bank lost 4.48.percent to close at 64k per share.
Dangote Sugar Refinery slid 3.23 per cent to close at N15, while Japaul Gold and Ventures lost 2.56 per cent to close at 38k per share.
Total volume traded increased by 51.5 percent to 639.44 million shares worth N6.63 billion traded in 4,564 deals.
A total of 422.18 million shares worth N4.47 billion were traded in 5,059 transactions on Monday.
With 364.03 million shares valued at N4.11 billion, FBN Holdings topped the activity chart.
Sterling Bank traded 80.97 million shares worth N121.434 million, while Ecobank Transnational Incorporated (ETI) traded 19.768 million shares worth N159.435 million.
GTCO traded 19.42 million shares valued at N467.04 million, while Fidelity Bank transacted 18.63 million shares worth N43.57 million.