The Nigerian Exchange (NGX) maintained its bullish momentum on Thursday, recording an impressive gain of ₦308 billion in market capitalisation as industrial and insurance stocks spearheaded a rally that extended the market’s winning streak to its tenth consecutive session.
Data from the NGX showed that the All-Share Index (ASI) climbed by 484.31 basis points, closing at 146,203.40 points, representing a 0.33% increase compared to the previous day.
The market capitalisation surged to ₦92.80 trillion, driven by sustained buying interest in mid- and large-cap stocks, particularly in the industrial goods and insurance sectors. However, market activity was mixed as trading volume dropped by 34.00%, while the total transaction value rose sharply by 101.47%.
According to a trading update by Atlass Portfolio Limited, investors exchanged approximately 346.99 million shares valued at ₦27.43 billion across 24,691 deals.
In volume terms, Fidelity Bank topped the chart, accounting for 12.21% of total trades, followed by Dangote Cement, Sterling Bank, Jaiz Bank, and Chams Holdings. In value terms, Dangote Cement (DANGCEM) dominated, representing 40.17% of total traded value.
On the gainers’ list, Caverton Offshore and Eunisell led the rally with a 10% price appreciation each, followed by Sunu Assurances (+9.90%), IMG (+9.10%), and Mecure Industries (+8.81%). Other top performers included Guinea Insurance (+5.63%) and Universal Insurance (+5.56%).
On the losing side, FTN Cocoa recorded the steepest decline of 6.67%, trailed by Fidelity Bank (-2.38%), Veritas Kapital (-1.90%), Cadbury Nigeria (-1.29%), Nascon (-1.04%), and BUA Cement (-0.62%).
Overall market breadth remained positive, with 32 gainers and 20 losers, signaling sustained investor confidence in equities with strong fundamentals.
Sectoral indices also reflected this positive sentiment: Banking (+0.26%), Insurance (+0.64%), Consumer Goods (+0.43%), and Industrial Goods (+0.67%) all posted gains, while the Oil & Gas and Commodities sectors closed flat.
Analysts noted that despite the lower trade volumes, the sharp rise in value indicates increased activity in large-cap equities, underscoring renewed investor appetite for blue-chip stocks amid stable market conditions.
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