Nigerian Equities Market Rebounds on Increased Buying Interest, Key Indices Rise

The Nigerian equities market experienced a positive rebound on Monday as renewed demand for select mid and large-cap stocks lifted key indices. Market capitalization rose to approximately N91.441 trillion from N91.346 trillion, with the All-Share Index (ASI) increasing to 143,763.13 points.

The market breadth improved with 27 gainers and 20 losers, reflecting a slightly bullish tone. Notable stock movements included Union Dicon Salt (NGX: UNIONDICON) and Caverton falling by 10%, while companies like UPDC Plc (NGX: UPDC), International Breweries (NGX: INTBREW), and Nigerian Breweries (NGX: NB) closed flat.

Investor sentiment improved as bargain hunting increased following recent market dips, signaling a cautious but positive outlook.