Nigerian Stock Market Gains N482bn in Rebound

On Tuesday, the Nigerian equities market experienced a rebound, reversing a previous decline with a gain of N482bn in overall market capitalisation. The All-Share Index rose by 745.81 points, marking a 0.30% increase to close at 247,984.55 points.

This upturn was attributed to price appreciation in large- and medium-cap stocks, including HBM Nigeria, Guinness Nigeria, Dangote Sugar Refinery, NASCON Allied Industries, and NEM Insurance. Investor sentiment remained positive, with 34 stocks gaining compared to 23 that declined.

Lasaco Assurance emerged as the highest price gainer, increasing by 10% to close at N2.20 per share. Other notable gainers included Linkage Assurance and Trans-Nationwide Express, both rising by 9.93% to close at N1.66 and N3.10 per share, respectively.

Conversely, Meyer topped the losers' list, dropping 9.97% to close at N16.70 per share. The total volume traded increased by 6.11% to 676.924 million units, valued at N36.429bn across 55,412 deals.