Nigeria’s Stock market rebounds with N288bn gain

The Nigerian equities market opened the week on a positive note on Monday, advancing by 0.18 per cent as investors gained N288 billion.

Buyers’ interest in stocks like Eterna, Caverton Offshore Support Group, Omatek Ventures, AVA Capital, Vitafoam and 20 other advancing equities drove the market performance up.

Specifically, the market capitalisation, which opened at N158.326 trillion, increased by N288 billion or 0.18 per ucent to close at N158.614 trillion.

Similarly, the All-Share Index rose by 446.85 points or 0.18 per cent to settle at 245,283.68 compared to 245,730.53 recorded on Friday.

This strengthened the Year-To-Date, YTD, return to 57.91per cent.

However, the market breadth closed negatively with 39 losers and 25 gainers.

Ecobank Transnational Incorporated led the losers’ chart by 9.95 per cent, settling at N80.10, Cadbury followed by 9.92 per cent, ending the session at N58.10 while Thomas Wyatt Nigeria dipped by 9.82 per cent, finishing at N3.95 per share.

WAPIC shed by 9.80 per cent, closing at N2.30 and Critical Minerals Financing Corp declined by 9.79 per cent, settling at N3.50 per share.

Conversely, Eterna and Caverton Offshore Support led the gainers’ chart by 10 per cent each, closing at N36.30 and N5.50 per share respectively.

Omatek Ventures gained by 9.88 per cent, finishing at N1.78, AVA Capital climbed by 9.70 per cent, ending the session at N9.05 while Vitafoam increased by 7.90 per cent, closing at N194 per share.

Market activity weakened during the trading session as investors exchanged 923.01 million shares worth N37.85 billion in 72,544 deals, representing a 2.12 per cent decline in volume traded.

Access Corporation led the volume chart with 166.64 million shares, accounting for 18.05 per cent of the total volume traded, while Aradel topped the value chart with transactions worth N4.59 billion, representing 12.12 per cent of the day’s total value traded.