The Nigerian stock market rebounded on Wednesday after a two-day loss, as investors gained N1.184 trillion.

Market capitalisation rose by N1.184 trillion, or 1.63 per cent, to close at N73.681 trillion, up from N72.497 trillion recorded on Tuesday.

Similarly, the All-Share Index rose by 1,876.71 points, or 1.63 per cent, settling at 116,786.87 from its previous close of 114.910.16.

This uptrend was fueled by strong buying interest in medium and large-capitalised stocks including NEM Insurance, Beta Glass, Seplat, Linkage Assurance and 34 other stocks.

The market breadth closed positively, with 38 gainers and 32 losers.

NEM Insurance led the advancers’ chart increasing by 10 per cent, settling at N16.50 while Beta Glass rose by 9.99 per cent, finishing at N250.95 per share.

Seplat Energy gained by 9.79 per cent, closing at N5,450 and Thomas Wyatt Nigeria grew by 9.73 per cent, ending the session at N2.03 per share.

Similarly, Linkage Assurance soared by 9.56 per cent, closing at N1.49 per share.
On the flip side, FG132026S1 dropped by 17.70 per cent, ending the session at N80 while Eterna fell by 10 per cent, closing at N38.70 per share.

Secure Electronic Technology lost by 9.68 per cent, settling at 56k and Legend Internet declined by 9.66 per cent, finishing at N6.55 per share.

Also, FTN Cocoa Processors shed by 6.07 per cent, closing at N2.63 per share.
Total turnover stood at 640.08 million shares valued at N26.01 billion, traded across 19,727 deals.

This is compared to 787.31 million shares valued at N25.67 billion, traded across 23,170 transactions.

Transactions in the shares of Zenith Bank topped the activity chart with 149.92 million worth N7.21 billion.

Access Corporation followed with 48.64 million shares valued at N1.01 billion while United Bank for Africa traded 42.99 million shares worth N1.46 billion.

Nigerian Breweries transacted 37.72 million shares valued at N2.19 billion while Fidelity Bank sold 30.84 million shares worth N568.54 million.