The Nigerian stock market rebounded on Friday, with investors recording a gain of N74 billion after losses in the previous session.
Market capitalization on the Nigerian Exchange Limited rose by 0.07 percent to close at N105.959 trillion, up from N105.885 trillion at the prior close.
Similarly, the All-Share Index appreciated by 114.81 points, or 0.07 percent, to end the session at 165,512.18, compared with 165,397.37 recorded on Thursday.
The recovery was supported by renewed buying interest in select stocks, including Morison, Union Homes Real Estate Investment Trust, SCOA, RT Briscoe, and Austinlaz.
However, market breadth closed negative, as 40 stocks declined while 34 recorded gains.
Neimeth International Pharmaceutical led the losers, shedding 9.86 percent to close at N13.25 per share. Secure Electronic Technology followed with a decline of 9.35 percent to 97 kobo, while Eterna dropped by 8.23 percent to close at N28.45 per share.
University Press fell by 6.25 percent to N6, while Eunisell Interlinked lost 5.84 percent to close at N153.95 per share.
On the gainers’ table, Union Homes Real Estate Investment Trust and Morison topped the chart, each appreciating by 9.94 percent to close at N71.35 and N7.52 per share, respectively.
Market activity slowed during the session, as total deals, volume, and value declined. A total of 731.7 million shares valued at N19.05 billion were traded in 44,005 deals, compared with 768.3 million shares worth N21.2 billion exchanged in 46,481 transactions on Thursday.
CHAMS recorded the highest trading volume with 76.86 million shares, representing 10.51 percent of total volume, while Zenith Bank led in value terms with trades worth N3.47 billion, accounting for 18.20 percent of the day’s total value.
