The Nigerian Exchange Group (NGX) rebounded with a N329 billion gain on Thursday despite the uncertainty surrounding the Nigerian economy.
The NGX All-Share Index soared by 0.58% to close at 104,100 points, while the total market capitalization settled at N56.961 trillion.
This surge further bolstered the market’s year-to-date gain to 39.22%.
Despite this overall positive trend, the market breadth which measures investor sentiment, appeared negative with 24 gainers and 27 losers at the close of trading.
Notable gainers included University Press, Juli Plc, Mutual Benefits Assurance, Daar Communications, and Honeywell Flour Mill, which collectively contributed to the upward movement of the All-Share Index.
Among the sectoral indices, the insurance, consumer goods, and industrial goods sectors experienced relative gains, increasing by 0.18%, 0.22%, and 1.95%, respectively.
However, the banking index faced a decline of 1.32%, while the oil and gas sector exhibited a muted performance.
Despite the rise in the All-Share Index, trading activity on the Nigerian Exchange was somewhat subdued compared to the preceding day.
Total traded value saw a notable decrease of 42.89%, totaling N6.91 billion, while the volume of traded equities fell by 33.35% to 284.49 million units.
Nonetheless, the number of deals recorded a modest decline of 5.62%, amounting to 8,168 transactions.
Major decliners for the day included Unilever, Julius Berger, and Morison, which witnessed losses of 9.80%, 9.64%, and 9.60%, respectively.
Guaranty Trust Holding Company emerged as the most traded security, both in terms of volume and value, with 56.61 million units worth N2.22 billion changing hands in 326 deals.
