The Nigerian stock market extended its winning streak on Thursday as investors continued to show renewed confidence. The market gained a hefty ₦191 billion in value, marking the fifth straight trading session of positive performance and underscoring strong investor appetite despite mixed economic signals.
According to data from the Nigerian Exchange (NGX), the All-Share Index (ASI) rose by 300.49 points, or 0.21 per cent, closing at 140,665.85 points. Market capitalisation also climbed to ₦89.004 trillion, reflecting the broad-based rally. Analysts attribute the uptick to sustained interest in mid- and large-cap stocks.
Key gainers driving the upswing included Guinness Nigeria, CAP, Nigerian Exchange Group, NAHCO and NCR Nigeria. In fact, C&I Leasing, Guinness Nigeria and Living Trust Mortgage Bank all hit a 10 per cent daily gain, closing at ₦6.60, ₦143.00 and ₦4.62 per share respectively. Other notable risers were eTranzact International, up 9.68 per cent to ₦13.60, and Regency Alliance Insurance, which added 9.42 per cent to ₦1.51 per share.
While the mood stayed largely upbeat, some stocks saw pullbacks. NEM Insurance led the losers’ chart with a 9.94 per cent drop to ₦28.10 per share, followed by AXA Mansard Insurance down 4.76 per cent at ₦15.99 and CWG down 4.71 per cent at ₦16.20. Despite these dips, overall market sentiment remained positive, with 41 gainers versus 12 decliners — a clear sign of ongoing bullish momentum.
Trading volume fell by 50.74 per cent to 378.18 million units worth ₦12.4 billion across 22,935 deals. Japaul Gold & Ventures topped the activity chart with 42.05 million shares traded, followed by Zenith Bank with 27.91 million shares worth ₦1.87 billion. Analysts at Imperial Asset Managers say they expect the mixed trend to persist, driven by bargain hunting ahead of Tier-1 banks’ half-year 2025 earnings releases and interim dividend announcements.
source: leadership