Sharp decline in trading overshadows Stock Market’s modest rebound

By Taiye Olayemi

The Nigerian Stock Market returned to positive territory on Thursday as renewed investor interest lifted the market by N111 billion, reversing the losses recorded in the previous session.

Improved sentiment across multiple sectors drove the rebound, with strong demand for Ikeja Hotel, Linkage Assurance, NCR Nigeria, Learn Africa, Union Dicon Salt and 29 other advancing stocks helping to restore market momentum.

Stock Market capitalisation rose to N91.107 trillion, up from N90.996 trillion, while the All-Share Index added 174.66 points, or 0.12 per cent, to close at 143,239.23 from 143,064.57.

The uptick pushed the year-to-date return to 39.17 per cent, reinforcing optimism among long-term investors despite intermittent volatility.

Stock Market breadth stayed positive, with 34 gainers outpacing 20 laggards.

Ikeja Hotel and Linkage Assurance led the gainers, each rising 10 per cent to close at N27.50 and N1.87 respectively. NCR Nigeria and Learn Africa followed closely, appreciating 9.96 per cent each, while Union Dicon Salt advanced 9.52 per cent to N6.90.

On the losers’ side, Champion Breweries topped the chart with a 9.85 per cent decline to N12.35, trailed by Sterling Nigeria, which shed 8.33 per cent to N7.15. UPDC dropped 8.23 per cent to N5.02, while Cileasing and Guinea Insurance lost 4.83 per cent and 4.35 per cent respectively.

Despite the index recovery at the Stock Market, trading activity weakened significantly. Investors exchanged 324.6 million shares worth N13.1 billion in 18,328 deals, far below Wednesday’s 738.4 million shares valued at N35.5 billion, reflecting a more cautious session.

Fidelity Bank maintained its position as the most active stock by volume with 32.20 million shares traded, while GTCO led in value terms at N2.27 billion, signalling continued investor confidence in the tier-one lender.