Nigeria’s Stock Market Rebounds as MTN, Dangote Cement Lead Broad Gains
Nigeria’s equity market demonstrated resilient performance on Wednesday, reversing the previous session’s 0.30% decline through broad-based gains led by MTN Nigeria, PRESCO, Dangote Cement, and 34 other stocks.
The benchmark All-Share Index surged by 1.63%, reaching 116,786.87 points, compared to the previous close of 114,910.16 points.
Market capitalization expanded by ₦1.184 trillion, rising 1.63% to ₦73.681 trillion, up from ₦72.497 trillion.
Trading activity comprised 640 million shares exchanged across 19,727 transactions, generating a total turnover of ₦26 billion.
Market sentiment remained positive, with 37 stocks recording price gains compared to 30 decliners.
NEM Insurance topped the gainers’ chart with a 10.00% appreciation, closing at ₦16.50, up from ₦15.00.
BETAGLASS, SEPLAT, THOMASWYAT, and Linkage Assurance also posted gains exceeding 9.00%.
On the flip side, ETERNA Oil led the decliners, falling 10.10% to close at ₦38.70, down from ₦43.00.
Other notable losers included Secure Electronic Technology (-9.68%), Legend Internet (-9.66%), and FTN Cocoa (-6.07%).
Zenith Bank dominated trading by volume, with approximately 150 million shares changing hands in 1,504 transactions, valued at ₦7.2 billion.
ACCESSCORP recorded significant activity with 49 million shares traded in 1,248 deals, totaling ₦1 billion.
UBA completed 43 million share transactions across 1,114 deals, amounting to ₦1.45 billion in value.
