The Nigerian equities market rebounded strongly on Thursday, reversing three consecutive days of losses and delivering fresh gains of ₦521 billion to investors. The positive close came just before the Eid-ul-Mawlid holiday, as renewed demand lifted major medium and large-cap stocks across multiple sectors.
Market indicators showed a healthy recovery, with the All-Share Index (ASI) rising by 823.67 points to settle at 138,980.83. Consequently, market capitalization expanded significantly by ₦521.15 billion, closing at ₦87.94 trillion. The rebound translated to a 0.60% improvement in overall market performance.
Trading activity, however, presented a mixed picture. While total transaction volume on the Nigerian Exchange (NGX) surged by 273.96%, the value of trades fell by 20.21%. According to figures from Atlass Portfolio Limited, investors exchanged about 1.805 billion units worth ₦15.70 billion in 24,397 deals.
Insurance giant Sovereign Trust Insurance Plc (SOVRENINS) dominated activity, accounting for 77.91% of the day’s total volume and emerging as the most traded stock in both volume and value terms. Nigerian Breweries (NB), Fidelity Bank (FIDELITYBK), Zenith Bank (ZENITHBANK), and Universal Insurance (UNIVINSURE) followed in the top five activity chart.
Among the top gainers, Ellah Lakes and Veritas Kapital posted maximum price increases of 10% each, while Honeywell Flour (HONYFLOUR), Royal Exchange (ROYALEX), Mansard, Prestige Assurance, and International Breweries (INTBREW) also recorded significant upticks.
On the losers’ side, Austin Laz & Company Plc (AUSTINLAZ) led with a 9.75% dip, followed by Neimeth (-8.33%), Champion Breweries (-4.15%), and Unilever Nigeria (-4.11%). Overall, the market breadth closed positive with 41 gainers against 12 losers.
Sectoral performance was broadly upbeat. Insurance outperformed with a 6.73% jump, followed by Consumer Goods (+1.54%), Banking (+0.98%), and Oil & Gas (+0.03%). The Industrial Goods sector remained flat.
Analysts believe Thursday’s rebound could set the tone for renewed investor optimism, particularly if demand for blue-chip stocks continues into the new trading week.
