Stock market rebounds, gains N720bn

Nigeria's stock market experienced a rebound on Tuesday, marking a significant gain of N720 billion for investors. The market capitalization climbed by 0.46%, reaching N155.849 trillion from N155.129 trillion in the previous session. This positive performance was fueled by renewed buying interest, particularly in medium and large-cap stocks across key sectors such as banking, insurance, consumer goods, and real estate.

The financial services sector showed strong investor confidence, dominating the gainers' chart. While the market's Year-to-Date return improved to 56.07%, the market breadth closed positively with 26 gainers against 23 losers. Learn Africa, Firstholdco, and Thomas Wyatt Nigeria were among the top gainers, with increases of 10%, 9.98%, and 9.80% respectively.

Conversely, International Energy Insurance led the decliners, losing 9.86%. Other notable losers included Legend Internet and Fortis Global Insurance. Market activity saw a substantial increase in trading volume, up by 21.25% to 634.78 million shares, valued at N53.34 billion. First HoldCo was the most actively traded stock, accounting for a significant portion of the day's volume and value.