Nigeria's stock market rebounded with a N411 billion gain in market capitalisation, driven by fresh investor demand for equities including HBM Nigeria and 26 other stocks. The Nigerian Exchange Limited All-Share Index (NGX ASI) closed at 245,911.13 basis points, up 0.26 per cent, according to market data. The overall market capitalisation reached N159.67 trillion, while the year-to-date return strengthened to 58.03 per cent.
Large and medium-sized stocks led the gains, with HBM Nigeria, NASCON Allied Industries, Unilever Nigeria, Custodian Investment and ABC Transport among the top performers. Trading sentiment turned bullish, with 27 advancing stocks outnumbering 21 decliners. Austin Laz and Company recorded the highest price gain at 9.97 per cent to close at N3.53 per share, followed by ABC Transports with a 9.92 per cent rise to N6.65 and Cutix up 9.91 per cent to N2.33. Thomas Wyatt Nigeria advanced 9.77 per cent to N2.92, while Caverton Offshore Support Group rose 9.76 per cent to N4.50.
Decliners were led by Livestock Feeds, which fell 9.76 per cent to close at N17.10 per share. Guinea Insurance shed 7.78 per cent to 83 kobo, while NPF Microfinance Bank declined 5.75 per cent to N4.10. Mutual Benefits Assurance dropped 4.69 per cent to N3.05, and AIICO Insurance fell 3.06 per cent to N3.80.
Trading activity saw 348.751 million shares worth N25.877 billion exchanged in 32,639 deals, a 0.19 per cent fall in volume from the previous session. United Bank for Africa led activity with 48.141 million shares valued at N2.118 billion, followed by FCMB Group with 30.115 million shares worth N328.314 million and Zenith Bank with 21.009 million shares valued at N2.594 billion. Guaranty Trust Holding Company traded 16.065 million shares worth N1.970 billion, while Dangote Sugar Refinery exchanged 9.272 million shares valued at N619.031 million.
Market analysts characterised the session as showing cautious bullish sentiment with mixed activity as the market recovered from previous losses. Looking ahead, Cowry Assets Management Limited said continued bargain-hunting could support further gains, though intermittent profit-taking may restrain upside momentum. For savers and investors, the 58.03 per cent year-to-date return offers growth potential, though the cautious sentiment suggests continued volatility.