Nigeria’s equities market sustained its bullish run on Thursday, with investors recording a net gain of N369 billion, even as overall trading activity moderated compared to the previous session.
Data from the Nigerian Exchange Group (NGX) showed that market capitalisation rose by 0.28 percent, closing at N130.773 trillion, up from N130.404 trillion at the start of trading. The gain reflects continued investor confidence in equities, despite a slowdown in transaction volumes and deal flow.
A total of 652.86 million shares valued at N39.82 billion were exchanged in 51,101 deals during the session. This marks a notable decline from Wednesday’s figures of 1.01 billion shares worth N40.57 billion traded across 52,723 transactions. Specifically, trading volume fell by 35.17 percent, while the value of transactions dipped by about two percent, and the number of deals declined by three percent.
Index Performance Remains Strong
The benchmark All-Share Index (ASI) mirrored the positive sentiment, advancing by 576.27 points, or 0.28 percent, to close at 203,161.81. This compares with 202,585.54 recorded in the previous session, pushing the year-to-date return further up to an impressive 30.56 percent.
Despite the overall market gain, breadth closed slightly negative, indicating mixed sentiment beneath the surface. A total of 31 stocks recorded losses, marginally outweighing the 30 gainers.
Losers and Gainers
Leading the laggards was LivingTrust Mortgage Bank Plc, which shed 10 percent to close at N4.32 per share. Other notable decliners included RT Briscoe Plc, Tantalizers Plc, Livestock Feeds Plc, and VFD Group Plc.
On the flip side, Trans-Nationwide Express Plc topped the gainers’ chart with a 9.94 percent increase, closing at N3.43 per share. It was followed by International Energy Insurance Plc, which rose by 9.84 percent to N3.46. UPDC Plc also posted strong gains, appreciating by 9.63 percent to close at N7.40.
Other notable advancers included Guinea Insurance Plc, which climbed 9.52 percent to N1.15, and Regency Alliance Insurance Plc, up 9.18 percent to N1.07 per share.
Trading Activity Leaders
In terms of volume, Access Holdings Plc emerged as the most actively traded stock, with 121.70 million shares changing hands. Meanwhile, Guaranty Trust Holding Company Plc led the market in value terms, with transactions worth N8.10 billion.
Outlook
While the dip in trading activity suggests some caution among investors, the continued rise in market capitalisation and index levels points to sustained bullish sentiment. Analysts note that selective buying, particularly in financial and insurance stocks, is likely to continue driving market performance in the near term as investors position for earnings releases and macroeconomic signals.