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Market capitalisation increased by ₦779 billion to ₦164.973 trillion.
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The All-Share Index rose by 0.47 percent to close at 254,083.02 points.
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Market breadth turned positive, with 27 gainers against 26 decliners, as eTranzact led the gainers with a 10.00 percent increase.
October 29, (THEWILL) – The Nigerian Exchange Limited (NGX) rebounded on Thursday, as market capitalisation rose by ₦779 billion from ₦164.194 trillion at the opening to ₦164.973 trillion at the close of trading.
The All-Share Index (ASI) also advanced by 1,200.24 points, representing a 0.47 percent increase from 252,882.78 to 254,083.02 points. The recovery followed Wednesday’s decline, when market capitalisation shed ₦719 billion, and the benchmark index fell by 0.44 percent.
Market breadth improved slightly, with 27 equities appreciating in price against 26 decliners. The positive balance indicated a marginal improvement in investor sentiment, although price movements remained mixed across listed stocks.
Top Gainers
- eTranzact International advanced by 10.00 percent (₦16.00 to ₦17.60).
- Sovereign Trust Insurance gained 9.60 percent (₦1.98 to ₦2.17).
- Fortis Global Insurance rose by 9.38 percent (₦1.60 to ₦1.75).
- McNichols Plc appreciated by 9.18 percent (₦4.90 to ₦5.35).
- Zichis Agro Allied Industries gained 8.24 percent (₦17.00 to ₦18.40).
Top Decliners
- First HoldCo fell by 10.00 percent (₦139.50 to ₦125.55).
- Livestock Feeds declined by 9.70 percent (₦13.40 to ₦12.10).
- Tantalizers shed 8.40 percent (₦3.93 to ₦3.60).
- Consolidated Hallmark Insurance Leasing Company declined by 7.41 percent (₦5.40 to ₦5.00).
- Regency Alliance Insurance lost 7.35 percent (₦0.68 to ₦0.63).
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Several equities closed unchanged during the session, including Seplat Energy Plc, Presco Plc, John Holt Plc, Custodian Investment Plc, Julius Berger Nigeria Plc and Coronation Infrastructure Fund, among others.
The market’s rebound restored some of the value lost in the previous session, with both market capitalisation and the ASI closing higher. However, the narrow difference between gainers and decliners suggests that the recovery was modest in breadth, despite the improvement in the benchmark indicators.
The contrasting performances of First HoldCo and the leading gainers underscored the uneven direction of individual equities during the session. While the overall market recovered, losses in selected stocks continued to weigh on investor positions.
Looking ahead, investors will monitor whether Thursday’s recovery can be sustained in the next trading session. Continued buying interest could support further gains in the ASI and market capitalisation, while the performance of major stocks and changes in market breadth will help determine whether the rebound develops into a broader recovery.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
