Equity investors on the Nigerian Exchange (NGX) gained ₦512 billion on Thursday as the market rebounded from three consecutive sessions of losses, with key indicators advancing 0.60% ahead of the Eid-ul-Mawlid holiday.
Renewed buying interest in recently moderated medium- and large-cap stocks such as Ellah Lakes, Honeywell Flour, AIICO, and Transcorp helped lift the market.
The All-Share Index (ASI) climbed 823.67 points to close at 138,980.83, while market capitalization rose by ₦521.15 billion to ₦87.94 trillion. Market turnover was mixed, with total volume soaring 273.96% but value declining 20.21%.
Atlass Portfolio Limited reported that 1.81 billion units worth ₦15.70 billion were exchanged in 24,397 deals. Sovereign Trust Insurance (SOVRENINS) dominated trading, accounting for 77.91% of total volume and 26.40% of total value, followed by Nigerian Breweries, Fidelity Bank, Zenith Bank, and Universal Insurance.
Top gainers included Ellah Lakes and Veritas Kapital (+10.00% each), Honeywell Flour (+9.95%), Royal Exchange (+9.94%), Mansard (+9.94%), and Prestige Assurance (+9.88%). On the flip side, Austin Laz led the laggards with a -9.75% drop, alongside Neimeth (-8.33%), Champion Breweries (-4.15%), Unilever (-4.11%), and Tantalizers (-3.36%).
Market breadth closed positive with 41 advancers against 12 decliners. Sectoral performance also leaned bullish as insurance surged 6.73%, consumer goods gained 1.54%, banking advanced 0.98%, and oil & gas edged up 0.03%. The industrial goods sector closed flat.
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