The Nigerian stock market returned to positive territory after two consecutive sessions of losses, with investors recording a gain of ₦719 billion in market value.
At the close of trading, the Nigerian Exchange All-Share Index (NGX ASI) advanced by 1,121.33 points, representing a 0.46 per cent increase to settle at 242,870.44 points. Market capitalisation also climbed to ₦155.849 trillion.
The rebound was supported by gains in major stocks, including MTN Nigeria, whose share price rose by 1.23 per cent to close at ₦820.00.
Market sentiment remained upbeat as 24 stocks recorded gains, while 22 equities closed lower. Learn Africa emerged as the top performer with a 10 per cent increase, followed closely by First HoldCo, Thomas Wyatt Nigeria, R.T. Briscoe and Transcorp Hotels, all posting notable gains.
On the losing side, International Energy Insurance led the decliners after shedding 9.86 per cent of its value. Other stocks that closed lower included Legend Internet, Fortis Global Insurance, FTN Cocoa Processors and International Breweries.
Trading activity also improved significantly during the session. Investors exchanged 634.775 million shares worth ₦53.336 billion across 42,494 deals, reflecting stronger market participation.
First HoldCo recorded the highest trading volume, followed by Guaranty Trust Holding Company (GTCO), Access Holdings, FCMB Group and Zenith Bank.
Market analysts attributed the recovery to renewed investor confidence after recent profit-taking, noting that increased trading activity and improved market breadth signaled stronger buying interest.
They added that while the market could maintain its upward momentum through continued portfolio adjustments and strategic investments, occasional profit-taking in recently appreciated stocks may slow the pace of further gains.
