Stock Market Rebounds to Close March positive, Investors Gained N516bn
- The Nigerian stock market closed on a positive note, rebounding from earlier losses
- At the last trading day of March, investors engaged in bargain hunting across major equities
- Multiverse stocks led advancers, and NPF Microfinance Bank topped the losers' table
Legit.ng journalist Dave Ibemere has experience in business journalism, with in-depth knowledge of the Nigerian economy, the stock market, and broader market trends.
The Nigerian stock market closed Tuesday, March 31, on a positive note, recouping part of the previous sessions’ losses as investors engaged in bargain hunting across key equities.
Stocks such as MTN Nigeria, PZ Cussons, Cadbury Nigeria, Eterna, Nigerian Breweries, NAHCO, Lafarge Africa, Oando, CAP, Transcorp, and others recorded gains.
Source: Getty Images
As a result, the benchmark All-Share Index (ASI) rose by 0.40% to close at 201,287.78 points, up from 200,484.43 points in the previous session.
Market capitalisation also increased by N515.68 billion to settle at N129.21 trillion, while the year-to-date (YTD) return climbed to 29.35%.
However, market breadth remained negative, with 50 decliners compared to 20 gainers.
Volume and Value Contribution
Market activity improved for the day, with total volume traded rising by 49.63% to 887.68 million units, valued at N35.56 billion across 53,436 deals.
Wema Bank recorded the highest volume, with 184.13 million units traded, accounting for 20.74% of total volume.
MTN Nigeria recorded the highest value, with N9.08 billion traded, representing 25.52% of the total value.
Source: Facebook
Top gainers
- Multiverse rose from N16.70 to N18.35, gaining N1.65 (+9.88%).
- IntEnEgIns increased from N2.95 to N3.23, adding N0.28 (+9.49%).
- Chams advanced from N4.05 to N4.39, up N0.34 (+8.40%).
- MTN Nigeria climbed from N718.00 to N760.00, gaining N42.00 (+5.85%).
- Lotus Hal15 rose from N136.00 to N143.00, adding N7.00 (+5.15%).
Top decliners
- NPF Microfinance Bank fell from N7.00 to N6.30, losing N0.70 (–10.00%).
- Skyway Aviation Handling Company dropped from N158.95 to N143.10, shedding N15.85 (–9.97%).
- Zicchini declined from N15.16 to N13.65, losing N1.51 (–9.96%).
- MBENEFIT decreased from N4.54 to N4.09, shedding N0.45 (–9.91%).
- RT Briscoe fell from N10.71 to N9.65, losing N1.06 (–9.90%).
Most active stocks
- Wema Bank led in volume with 184.13 million shares valued at N4.79 billion.
- VFD Group followed with 103.56 million shares worth N1.19 billion.
- NSLTECH recorded 59.33 million shares valued at N63.75 million.
- Chams traded 38.56 million shares worth N151.97 million.
- Access Holdings exchanged 27.77 million shares valued at N720.09 million.
Dangote sets timeline for refinery shares
Earlier, Legit.ng reported that the chairman of the Dangote Group, Aliko Dangote, has announced that Nigerians will soon be able to invest directly in the Dangote Refinery, while urging the federal government to support local manufacturing to strengthen the naira.
Dangote announced the investment while hosting the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Bayo Ojulari, and other board and executive members on a tour of the refinery.
Source: Legit.ng
