The Nigerian equities market sustained its bullish run, closing in positive territory on Thursday as investors raked in ₦257 billion in capital gains following increased buying interest in key large- and mid-cap stocks.
This surge was supported by strong demand for shares of companies such as NESTLE, HONYFLOUR, and OKOMUOIL, reinforcing investor optimism about the continued upward trajectory of the market.
The Nigerian Exchange (NGX) All-Share Index (ASI) climbed by 408.31 points to a record high of 109,467.64 points, representing a 0.37% day-on-day increase. Despite the upbeat index performance, market activity remained mixed, with trade volume rising by 37.38% while the overall transaction value dropped by 29.93%.
In its trading summary, Atlass Portfolios Limited disclosed that 729.88 million shares valued at ₦13.88 billion exchanged hands in 14,743 transactions during the session.
Fidelity Bank (FIDELITYBK), Caverton Offshore (CAVERTON), AIICO Insurance, and FTN Cocoa also featured prominently in trading activity, though FCM Bank (FMCB) led the pack by accounting for 37.42% of total trade volume. In terms of value, telecom giant MTNN dominated, contributing 24.77% of the day’s total turnover.
Top gainers on the day included HONYFLOUR and NESTLE, both appreciating by the daily limit of 10.00%, followed closely by BETAGLAS (+9.98%), NPF Microfinance Bank (+9.81%), NEIMETH (+9.77%), and SKYAVN (+9.75%).
However, the session was not without its laggards, as MULTIVERSE led the decliners’ chart with a -9.64% drop. Other notable losers were MAYBAKER (-3.82%), JAIZBANK (-3.41%), STERLINGNG (-3.33%), WEMABANK (-2.77%), and OANDO (-1.87%).
Market breadth remained positive, with 36 gainers outweighing 23 decliners. Sectoral indices also showed strength, led by the Consumer Goods Index, which rose by 1.16%. Gains were also recorded in the Banking (+0.20%) and Industrial Goods (+0.18%) sectors. The Oil & Gas sector dipped marginally by 0.18%, while the Insurance sector ended flat.
As a result, the total market capitalisation of listed equities rose by ₦256.62 billion, closing at ₦68.80 trillion—a 0.37% increase that reflects investor confidence in the market’s resilience.
