KEY POINTS
• Market capitalisation rises N623 billion to N163.679 trillion.
• All Share Index gains 0.38 per cent to close at 252,150.01.
• Market extends bullish run to 11 consecutive sessions.
• 28 stocks gain while 24 decline as trading value rises.
MAIN STORY
Nigeria’s stock market extended its positive run to an 11th consecutive session on Thursday, with increased buying interest and bargain hunting lifting key market indicators by 0.38 per cent.
Market capitalisation rose by N623 billion to N163.679 trillion from N163.056 trillion recorded on Wednesday.
The All Share Index also advanced by 958.99 points to close at 252,150.01.
The session’s gains were supported by buying interest in medium and large capitalised stocks, including Critical Minerals Financing Corp, RT Briscoe, Caverton Offshore Support Group, Nigerian Aviation Handling Company and Linkage Assurance.
Critical Minerals Financing Corp recorded the biggest gain, rising 10 per cent to close at N2.97. RT Briscoe followed with a 9.55 per cent increase to N9.75, while Caverton Offshore Support Group gained 8.75 per cent to N4.35 per share.
Nigerian Aviation Handling Company rose 8.57 per cent to N152, while Linkage Assurance appreciated by 7.36 per cent to N1.75 per share.
The sustained gains lifted the market’s year to date return to 62.04 per cent, while market breadth remained positive with 28 gainers against 24 losers.
Neimeth International Pharmaceutical recorded the largest decline, falling 7.23 per cent to N7.70. Ellah Lakes lost 5.33 per cent to close at N8, while Mutual Benefits Assurance declined by 4.65 per cent to N3.28 per share.
Lasaco Assurance fell 4.44 per cent to N1.72, while Wema Bank dropped 3.93 per cent to N30.55 per share.
Trading activity was mixed during the session, with the total value of transactions increasing despite declines in the volume of shares traded and number of deals.
Investors exchanged 978.29 million shares worth N50.16 billion in 48,558 transactions, compared with 1.59 billion shares valued at N45.82 billion in 49,836 deals on Wednesday.
Fidelity Bank accounted for the largest volume of trades, with 335.20 million shares representing 34.26 per cent of the day’s total.
Seplat Energy recorded the highest traded value at N13.40 billion, accounting for 26.71 per cent of total market value traded.
THE ISSUES
- The 11 consecutive sessions of gains have kept the market on a sustained positive run, with Thursday’s advance further strengthening the year to date return to 62.04 per cent.
- Buying interest in medium and large capitalised stocks provided support for the latest advance, although individual stocks recorded significant declines during the session.
- The rise in traded value alongside lower volume and fewer transactions compared with Wednesday indicates a shift in the composition of market activity rather than a broad increase across all trading measures.
- Market breadth remained positive, with 28 gainers exceeding the 24 stocks that declined during the session.
WHAT’S NEXT
The market enters its next trading session after recording an 11th consecutive gain, with the All Share Index at 252,150.01 and market capitalisation at N163.679 trillion.
BOTTOM LINE
The Nigerian stock market extended its winning streak to 11 sessions as buying interest pushed market capitalisation up by N623 billion. The latest advance also lifted the year to date return to 62.04 per cent.
