Nigerian Stock Market Gains N328bn as Seplat, MTN Surge

On November 12, the Nigerian stock market experienced a rebound, adding N328.26 billion to investors' wealth as buying activity surged in selected large-cap and mid-cap stocks. The All-Share Index increased by 505.56 points, or 0.20%, closing at 252,366.80 points, up from 251,861.24 points the previous day.

Market capitalization rose to N163.86 trillion from N163.53 trillion. The index's year-to-date return reached 62.18%, with month-to-date and week-on-week returns at 0.46% and 1.06%, respectively.

Trading volumes surged, with 2.91 billion shares worth N78.66 billion exchanged across 28,318 deals, representing a 596.70% increase in volume and a 244.62% rise in transaction value compared to the previous session. Seplat Energy led in value traded at N7.39 billion, while Fidson Healthcare recorded the highest gain of the day, increasing by 9.94% to close at N91.80.

Despite the overall gain, market breadth was negative, with 29 stocks declining against 22 advancing.