Nigerian equities market made a rebound on Thursday, November 27, gaining N111.08 billion in market capitalization, to close at N91.1 trillion, reflecting 0.12% increase over N90.99 trillion on Wednesday.
The market gain on Thursday contrasts with the about N443 billion losses the market recorded the previous day.
The benchmark NGX All-Share Index also increased by 0.12% to 143,239.23 from 143,064.57 points.
The market’s performance was driven by buying interests in MTNN (+1.08%), NB (+0.91%), and UCAP (+4.56%).
Overall, the market breadth closed positive at 1.74x, as 33 gainers outpaced 19 losers.
Key performance indicators
- All Share Index (ASI): Up +0.13% to 143,246.93
- Market Capitalization: Up +0.13% to N91.11 trillion
- Number of Gainers: 33 stocks
- Number of Losers: 20 stocks
- Total Deals: 18,094 (–9.16%)
- Total Volume Traded: 316.49 million units (–57.14%)
- Total Value Traded: N12.66 billion (–64.38%)
- Year-to-Date (YTD) Market Return: +39.17%
Sector Performance
- Insurance: +1.3%
- Consumer Goods: +0.1%
- Banking: +0.1%
- Oil & Gas: Flat
- Industrial Goods: Flat
Top 5 Gainers
- Ikeja Hotel: Up +10% to N27.50
- Linkage Assurance: Up +10% to N1.87
- Learn Africa: Up +9.96% to N5.74
- NCR: Up +9.96% to N54.65
- Union Dicon: Up +9.52% to N6.90
Top 5 Losers
- Champion Breweries: Down –9.85% to N12.35
- Sterling HoldCo: Down –8.33% to N7.15
- UPDC: Down –8.23% to N5.02
- C&I Leasing: Down –4.83% to N5.32
- Guinea Insurance: Down –4.35% to N1.10
Market rebound drivers
Gains in key large- and mid-cap stocks, notably advances in MTNN (+1.1%), HONYFLOUR (+6.4%), ACCESSCORP (+1.0%), and NB (+0.9%) collectively lifted the All-Share Index by 0.1% to 143,239.23 points.
However, month-to-date performance remained negative at –7.1%, while the Year-to-Date return improved slightly at +39.2%.
The financial services sector boosted the market rebound as Access Corporation, GTCO, UBA, Fidelity, FCMB and First HoldCo added to rally in MTN Nigeria as well as Nigerian Breweries Plc.
Stocks in the hospitality, insurance, and construction sectors showed significant gains also, indicating market optimism in these areas.
Trading activity weakened considerably, as the total volume of transactions declined by 56.0% to 324.55 million units, valued at N13.05 billion across 18,328 deals.
FIDELITYBK dominated activity by volume (32.20 million units), whereas GTCO led by value (N2.27 billion).
