NGX rebounds as investors gain N111bn

Trading on the Nigerian Exchange bounced back to a bullish position on Thursday as investors booked a combined gain of N111 billion after Wednesday’s decline.

The recovery was supported by improved sentiment toward Ikeja Hotel, Linkage Assurance, NCR Nigeria, Learn Africa, Union Dicon Salt and 29 additional equities across major sectors.

Market capitalisation increased to N91.107 trillion, compared with N90.996 trillion recorded at the close of the previous session.

The All-Share Index strengthened by 174.66 points, representing a 0.12 per cent rise, to finish at 143,239.23 against Wednesday’s 143,064.57 points.

This modest improvement pushed the year-to-date return to 39.17 per cent, reflecting sustained optimism among long-term investors.

Overall market breadth remained positive, as 34 equities appreciated in value while 20 declined during the trading session.

Ikeja Hotel and Linkage Assurance topped the gainers’ list, advancing by 10 per cent each to close at N27.50 and N1.87 respectively.

NCR Nigeria and Learn Africa gained 9.96 per cent each, ending at N54.65 and N5.74, while Union Dicon Salt rose 9.52 per cent to settle at N6.90.

On the downside, Champion Breweries led the losers’ table, falling by 9.85 per cent to close at N12.35 per share.

Sterling Nigeria followed with an 8.33 per cent decline to N7.15, while UPDC dropped 8.23 per cent to finish at N5.02 per share.

Cileasing lost 4.83 per cent to close at N5.32, and Guinea Insurance slipped 4.35 per cent to end at N1.10 per share.

Market activity weakened significantly, reflecting reduced appetite among some categories of traders and institutional investors.

A total of 324.6 million shares worth N13.1 billion were traded in 18,328 deals, below Wednesday’s 738.4 million shares valued at N35.5 billion.

The drop highlighted a quieter session, despite the improved index performance.