The Nigerian stock market bounced back on Tuesday, ending a six-day downturn that had seen a staggering loss of N1.6 trillion. The market gained N67 billion, with the All-Share Index (ASI) climbing by 0.12% to 95,895.92 points, up from the previous close of 95,781.68 points.
Market capitalization rose to N54.448 trillion, reflecting the day’s positive movement. Trading activity saw 1.01 billion shares exchanged across 8,295 transactions, valued at N7.69 billion. This marked a 150% surge in trading volume compared to the prior session, although the number of deals dropped by 11%.
Despite the uptick, the year-to-date (YTD) growth remains at 28.62%, with month-to-date and week-to-date figures showing declines of 1.93% and 1.24%, respectively. The market breadth ended on a negative note with 19 gainers and 24 decliners.
Top Gainers and Losers
Learn Africa led the gainers with a 9.94% increase, closing at N3.87 per share. Oando followed with a 9.90% rise to N43.30, and Cutix saw a 9.85% gain to N2.90. RT Briscoe and UPL also recorded notable increases of 9.63% and 8.57%, respectively.
On the downside, Thomas Wyatt experienced the largest drop, with its share price falling 9.71% to N1.58. Omatek Ventures and FTN Cocoa Processors lost 6.85% and 6.80%, respectively, while Neimeth International Pharmaceuticals and The Initiates Plc saw declines of 5.00% and 4.44%, respectively.
Market Activity
Jaiz Bank led in trading volume with 651 million shares exchanged, followed by Sterling Bank with 53.9 million shares, International Breweries with 28.4 million shares, and FCMB Group with 21.9 million shares.
The total value of shares traded reached N7.69 billion, a 0.50% increase from the previous session’s N7.65 billion. Jaiz Bank also led in transaction value, with shares worth N1.50 billion traded, followed by Sterling Bank and International Breweries with shares valued at N218.41 million and N128 million, respectively.
Context and Outlook
The market’s recovery comes after a period of substantial losses, with PUNCH reporting that the ASI had fallen by 1.36% to close at 95,781.68 points on Monday, following a loss of N1.6 trillion. The recent rebound is attributed to renewed investor interest in key stocks such as Seplat, Oando, and Stanbic IBTC.
Despite the positive turn, the market remains volatile, and broader performance metrics continue to show mixed results. Investors are cautiously optimistic, awaiting further signs of stability and growth.
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