Lagos, March 6, 2025 (Naija247news) — The Nigerian stock market rebounded on Thursday, recording a N215 billion increase in market capitalisation as renewed buying interest in medium and large-cap stocks drove gains across the board.
Thank you for reading this post, don't forget to subscribe!The Nigerian Exchange Ltd. (NGX) market capitalisation rose to N66.868 trillion, up 0.32% from N66.653 trillion recorded on Wednesday. Similarly, the All-Share Index (ASI) gained 344 points to settle at 106,780.72, compared to 106,436.48 in the previous trading session.
The market recovery was led by gains in Transnational Corporation, Guinness, Dangote Sugar, and other blue-chip stocks, with overall sentiment remaining bullish. Market breadth closed positive, as 36 stocks advanced while 15 recorded losses.
Top Gainers Drive Market Recovery
• Transnational Corporation topped the gainers’ chart, appreciating by 9.98% to N51.80 per share.
• SCOA Nigeria climbed 9.88%, closing at N3.78 per share.
• Africa Prudential gained 9.87% to close at N30.60 per share.
• Tantalizer increased by 9.52% to N2.37 per share.
• Caverton Offshore Support Group advanced 9.09% to 36k per share.
Market Losers
Despite the market uptrend, some stocks recorded losses:
• Sunu Assurance, MRS Nigeria Ltd., and Red Star Express led the losers’ chart, shedding 10% each, to close at N4.77, N166.50, and N5.94 per share, respectively.
• Lasaco Assurance dropped 7.99% to N2.65 per share.
• UPDC Real Estate Investment Trust declined 6.76% to N2.62 per share.
Trading Volume and Value Decline
Investor participation remained strong, though lower than the previous session. A total of 375.73 million shares valued at N10.185 billion were traded in 11,447 transactions, slightly down from 389.57 million shares worth N11.309 billion exchanged across 11,423 deals on Wednesday.
Most Active Stocks
• Guaranty Trust Holding Company (GTCO) led trading activity with 49.9 million shares worth N2.91 billion.
• Access Corporation followed, trading 43.8 million shares valued at N1.03 billion.
• Zenith Bank recorded 36.5 million shares worth N1.72 billion.
• Fidelity Bank traded 2.71 million shares worth N469 million.
• United Bank for Africa (UBA) exchanged 1.94 million shares valued at N705 million.
Outlook
Market analysts expect the bullish sentiment to continue, driven by positive earnings reports and improved investor confidence. However, some caution remains as global economic conditions and local monetary policies continue to influence market movements.
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