The Nigerian stock market staged a recovery on Thursday, buoyed by renewed interest in top banking and consumer goods stocks, with Zenith Bank and GTCO leading the rally.
The Nigerian Exchange (NGX) All-Share Index (ASI) climbed by 0.31%, closing at 141,149.04 points, as investors repositioned in response to recent monetary policy easing. The rebound brought relief after a stretch of losses earlier in the week.
Market activity surged significantly, with trading volume spiking by 160.35% to 1.1 billion units. Transactions were valued at ₦405 billion across 19,635 deals. FCMB was the most active stock by volume, recording 202 million units traded, while also topping the value chart with ₦2.1 billion in transactions.
Bullish momentum spread across key sectors, with notable buying interest in ZENITHBANK, GTCO, and MTNN lifting the benchmark. Market breadth reflected strong investor sentiment as 31 gainers outpaced 21 losers, producing an advance-to-decline ratio of 1.48.
Overall, market capitalization expanded by 0.31% to settle at ₦89.34 trillion, pushing year-to-date returns to 37.14%. Despite Oando’s decline on persistent negative sentiment, strong sector-wide demand underpinned Thursday’s rally.
