The Nigerian equities market extended its recovery on Thursday as the benchmark index recorded a second consecutive gain despite a sharp decline in the value of transactions.
The Nigerian Exchange All-Share Index (ASI) edged up 0.01 percent to 247,707.13 points, compared with 247,673.65 points recorded in the previous session.
The index added 33.48 points, building on Wednesday’s 0.06 percent increase and extending the market’s recovery after losses recorded at the beginning of the week.
Equity market capitalisation also increased marginally to approximately N160.834 trillion from N160.812 trillion on Wednesday.
However, trading activity weakened significantly.
Investors exchanged 286.76 million shares worth N15.31 billion in 30,247 deals, compared with 314.91 million shares valued at N28.59 billion across 30,956 deals in the previous session.
Trading volume declined by about 8.9 percent, while the number of deals fell 2.3 percent.
The most significant change was in transaction value, which plunged approximately 46.4 percent, or N13.28 billion, from Wednesday’s N28.59 billion.
Multi-Trex Integrated Foods and Zichis Agro Allied Industries led the gainers after both stocks appreciated by 10 percent to close at N0.55 and N17.93, respectively.
Austin Laz & Company extended its rally with a 9.92 percent gain to N2.66, CWG advanced 9.86 percent to N20.05, while Omatek Ventures gained 9.77 percent to N1.46.
On the losing side, Nigerian Enamelware fell 9.95 percent from N40.70 to N36.65, while NASCON Allied Industries declined 9.48 percent to N171.
Thomas Wyatt Nigeria dropped 6.38 percent to N2.20, DAAR Communications lost 6.37 percent to N1.47, while Legend Internet declined 5.80 percent to N3.25.
UBA emerged as the most actively traded stock by volume, recording 36.37 million shares worth N1.56 billion.
GTCO followed with 19.04 million shares valued at N2.44 billion, making it the highest among the five most active stocks by transaction value.
Access Holdings recorded 16.98 million shares worth N482.63 million, VFD Group traded 14.26 million shares valued at N200.14 million, while Zenith Bank recorded 12.34 million shares worth N1.58 billion.
The latest session leaves the NGX with two consecutive gains, but the modest 0.01 percent increase and sharp contraction in transaction value show that the recovery remained narrow heading into the final trading session of the week.
