The Nigerian stock market rebounded on Friday after seven consecutive sessions of losses, adding N209 billion to investors’ wealth as market capitalisation rose by 0.13 per cent.
Market capitalisation increased to N161.260 trillion from N161.051 trillion in the previous session, representing a gain of N209 billion.
Similarly, the All-Share Index rose by 321.05 points, or 0.13 per cent, to close at 248,363.55, compared with 248,042.50 recorded previously.
Consequently, the market’s year-to-date return improved to 59.60 per cent, reflecting its overall performance since the beginning of the year.
In spite of the recovery, market breadth remained negative, with 31 stocks recording losses against 22 gainers.
Red Star Express led the gainers, appreciating by 9.76 per cent to close at N13.40 per share.
Fidelity Bank followed with an 8.70 per cent gain, closing at N21, while Daar Communications rose by eight per cent to N1.38 per share.
WAPIC gained 7.26 per cent to settle at N2.30, while Omatek appreciated by 6.94 per cent to close at N1.34 per share.
