Owing to investor interest in a few small and mid-cap companies, the Nigerian Exchange Limited gained N263 billion by reversing the loss from the previous trading session.
With the market value of traded stocks rising to N56.91 trillion, equity investors profited N262.8 billion, while the All-Share Index saw a 0.47 percent increase, ending at 100,503.21 points, signifying robust buying activity across numerous counters.
At the close of trade, the exchange recorded 24 gainers and 29 decliners.
The market breadth was mediocre on Thursday due to the low volume of deals. The trading value plummeted by 17.3% to N8.33bn. The overall number of trades for the day grew by 3.4% to 9,013, while the daily average volume fell by 64.3% to 392.8 million units.
Guaranty Trust Holding Company’s shares were the most traded by volume, moving 39.75 million shares for N1.80 billion in 663 deals; Airtel Africa’s shares, moving N2.25 billion in just 34 trades, were the most traded by value.
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The performance of the various sectors varied. Due to holdings in Airtel Africa, Eterna Plc, Oando, NASCON Allied Industries, Flour Mills, Unilever, and Champion Breweries Plc, the oil and gas, consumer goods, and industrial goods sectors outperformed the rest with gains of 0.19 percent, 0.07 percent, and 0.01 percent for the day.
The banking and insurance industries lost 2.28 percent and 2.35 percent, respectively, at the close of business.
But at the end of trading, the biggest gainers were Oando (9.76 percent), United Capital (9.92 percent), Learn Africa (9.38 percent), ABC Transport (9.09 percent), and Africa Prudential (9.55 percent).
On the other hand, the top decreasers were Zenith Bank (-7 percent), Vita Foam (9.67 percent), Veritas Kapital (-10 percent), Livestock Feeds (-6.84 percent), and Linkage Assurance (-10 percent).
