Market snaps six-day losing streak, edges up 0.10%

The Nigerian stock market staged a mild rebound on Tuesday, ending six consecutive sessions of losses as the All-Share Index (ASI) rose by 0.10% to close at 143,763.13 points, up from 143,614.61 points recorded in the previous session.

Market capitalisation also inched higher, adding about N95 billion to settle at N91.441 trillion compared to N91.346 trillion on Monday.

Despite the modest recovery, activity remained fairly strong, with investors trading 556 million shares worth N18.7 billion in 19,500 deals.

Market breadth closed positive, reflecting improved investor sentiment, as 26 stocks gained, while 20 recorded price declines.

Top Gainers

NCR led the gainers’ chart, appreciating by 9.98% to close at N45.20 from N41.10.

Ikeja Hotel, Prestige Assurance and EUNISELL followed with gains of 9.86%, 9.56%, and 9.49% respectively.

Top Losers

UNIONDICON and Caverton topped the losers’ list, shedding 10% each to close at N6.30 and N4.95.

Sunu Assurance fell by 4.78%, while LASACO lost 4.58% among other laggards.

Volume Drivers

FBN Holdings (FIRSTHOLDCO) dominated trading with 94 million shares exchanged in 372 deals, valued at N2.9 billion.

Access Holdings (ACCESSCORP) traded 82 million shares in 1,133 deals, amounting to N1.7 billion.

Fidelity Bank posted 42 million units in 354 deals, worth about N796 million.

Tuesday’s marginal uptick signals cautious buying as the market attempts to stabilise after nearly a week of sustained declines.