The Nigerian equities market bounced back on Thursday, adding N521bn in value after three consecutive days of losses.
The Nigerian Exchange (NGX) closed Thursday on a positive note as equity investors gained N521 billion, halting a three-day losing streak.
The All-Share Index rose by 823.67 points, or 0.6%, to settle at 138,980.83 basis points, while market capitalisation surged to N87.94 trillion.
The rebound was driven by renewed demand for medium and large-cap stocks, including Ellah Lakes, Honeywell Flour Mills, AIICO Insurance, and Transnational Corporation.
Market breadth was positive, with 41 gainers and 12 losers. Ellah Lakes and Veritas Capital topped advancers with a 10% gain each. Sectoral performance was also upbeat, led by Insurance (+6.73%) and Consumer Goods (+1.54%).
Trading volume jumped 273.96% to 1.81 billion units worth N15.7 billion across 24,397 deals, though value dropped by 20.21%.
Sovereign Insurance dominated both volume and value trades, accounting for 77.91% and 26.40% respectively.