The Nigerian equities market recorded a significant boost on Thursday, with investors enjoying gains totaling approximately ₦479 billion. This surge came on the back of fresh reforms in the insurance sector, which have continued to spark investor confidence and push market sentiment higher.
At the close of trading on the Nigerian Exchange (NGX), key performance indicators pointed upward, with the All-Share Index appreciating by 0.52%. This development extended the market’s bullish trajectory to its 26th consecutive day, driving the year-to-date return to an impressive 42.4%.
Investor appetite remained strong, particularly for mid- and large-cap stocks. The insurance sector once again took center stage as the top-performing sector, rising by a remarkable 8.76%. This renewed rally is widely attributed to recent policy interventions and sector-wide reforms that have uplifted investor optimism and encouraged fresh capital inflows into insurance equities.
The NGX’s main index climbed by 755.49 points to end the session at a record high of 146,569.35 points, marking a 0.52% gain from Wednesday’s close. This milestone coincided with the equity market’s total capitalization appreciating by ₦478.82 billion to finish at ₦92.73 trillion.
Despite the bullish close, market activity slowed slightly. Total trading volume and value both fell by 26.51% and 16.45%, respectively.
According to a market update by Atlass Portfolio Limited, a total of 1.98 billion units valued at ₦27.26 billion were exchanged in 35,291 transactions. LINKASSURE emerged as the volume leader, accounting for 18.81% of total trades, followed by PRESTIGE (12.60%), VERITASKAP (9.19%), STERLINGNG (6.11%), and LASACO (2.97%).
In terms of value, GTCO took the lead, representing 10.78% of total traded value on the day.
AIICO, CORNERST, MANSARD, and UPL topped the gainers’ list with each seeing a 10% jump in share price. Other notable gainers included GUINNESS (+9.98%), UPDC (+9.94%), PRESTIGE (+9.93%), NEM (+9.93%), NGXGROUP (+9.92%), and 35 other stocks.
On the losing side, 33 equities saw their prices decline. CHAMS led the list of laggards, falling by 9.94%, followed by CAVERTON (-9.65%), UACN (-9.44%), MAYBAKER (-8.97%), OANDO (-8.47%), and BUACEMENT (-4.37%).
Market breadth remained positive with 44 gainers and 33 losers. Sectoral indices showed mixed results, with three of the five major sectors closing in the green. The insurance index led with an 8.76% jump, followed by consumer goods (+4.08%) and banking (+0.20%).
However, the industrial goods and oil & gas sectors experienced declines of 1.73% and 0.93%, respectively.
