The Nigerian equity market continued its recovery on Thursday, adding N577 billion in market capitalization. This growth was largely driven by strong buying interest in Unilever Nigeria, Vitafoam Nigeria, and MTN Nigeria Communications, each of which saw a 10% increase in their share prices. The All Share Index (ASI) rose by 1.05%, closing at 98,118.30 points, with a year-to-date gain of 32.09%.
The market capitalisation reached N55.709 trillion. In terms of trading activity, investors exchanged 791.78 million shares across 9,059 deals, valued at N15.126 billion. Although the volume of traded stocks slightly decreased by 5%, the turnover increased by 8%. The market breadth remained positive, with 33 stocks gaining and 19 declining.
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Access Holdings led the trading volume with 116 million shares, followed by Guaranty Trust Holding and Abbey Mortgage Bank
. The market’s recovery was part of a broader trend, mirroring a global rebound after earlier losses, as seen in markets like the Dow and S&P 500.
