Nigerian stocks rebounded on Thursday with the benchmark index advancing 1.75 per cent, clawing backgrounds lost at the previous training session as big-cap equities including Dangote Cement and MTN drove gains.

A raft of first-quarter earnings reports turned out positive, impelling investors to take a risk-on approach to trade, with companies like Access Bank, Vitafoam, Total, BUA, Okomu Oil, Dangote Sugar, Seplat, and Union Bank posting growth in profit.

Also strengthening gains, the industrial index jumped 3.58 per cent to 1,902.59 basis points, recording the best performance of the five sectorial indices tracked by the bourse.

A positive market breadth was recorded, with 24 gainers recorded relative to 17 losers. The all-share index went up by 679.72 points to 39,461.20, while market capitalisation rose to N20.652 trillion.

The index is down by 2.01 per cent year to date.


Julius Berger led gainers, appreciating by 10 per cent to close at N20.90. Fidson went up 10 per cent to N5.28. Ekocorp rose to N5.90, notching up 9.26 per cent. Consolidated Hallmark added 9.09 per cent to end trade at N0.36. BUA Cement completed the top 5, climbing by 8.89 per cent to N0.49.


Computer Warehouse Group was the worst-performing stock, declining by 9.84 per cent to close at N2.29. Mutual Benefits shed 7.50 per cent to close at N0.37. FBN Holdings fell to N6.90, losing 6.76 per cent. Wapic slid to N0.50, recording 3.85 per cent depreciation. Honeywell closed at N1.28, going down by 3.76 per cent.


A total of 270.682 million shares estimated at N2.031 billion were traded in 3,897 deals.

FBN Holdings was the most active stock with 51.524 million units of its shares worth N359.827 million traded in 527 deals. Transcorp’s shares of 42.465 units, priced at N40.023 million, exchanged hands in 106 transactions. Ekocorp had 20.001 million shares valued at N118.003 million traded in 20 deals. Sovereign Trust traded 18.012 million shares estimated at N4.203 million in 18 transactions. Access Bank traded 16.691 million shares valued at N122.154 million in 264 deals.


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