The Nigerian equities market extended its bullish run on Thursday, adding N1.27 trillion in value as renewed buying interest swept across key sectors of the market. The rally marked the fourth consecutive session of gains, reflecting growing investor confidence ahead of the dividend announcement season.
Data from the Nigerian Exchange showed that the All-Share Index (ASI) rose by 1,975.18 points, representing a 1.18 per cent increase, to close at 170,005.36 points. As a result, total market capitalisation climbed to N109.129 trillion, up from the previous session’s level.
The positive performance was driven largely by price appreciation in major medium- and large-cap stocks, including Seplat Energy, MTN Nigeria Communications, Dangote Cement, Julius Berger Nigeria, and Vitafoam Nigeria. These bellwether stocks attracted strong institutional demand, helping to sustain the market’s upward momentum.
Market breadth remained firmly positive, with 55 stocks recording gains against 19 decliners. Guinea Insurance and Seplat Energy led the gainers’ chart with 10 per cent appreciation each, while R.T. Briscoe, Neimeth International Pharmaceuticals, and Zichis Agro-Allied Industries also posted strong advances. On the losing side, DEAP Capital Management & Trust, Universal Insurance, and Haldane McCall recorded notable price declines.
Looking ahead, Imperial Asset Managers Limited said the market is expected to maintain its positive trend, although some short-term volatility may occur due to profit-taking. The firm noted that sustained institutional interest in key stocks could continue to provide support. Meanwhile, trading activity improved slightly, with 712.98 million shares worth N22.26 billion exchanged in 46,104 deals, as Access Holdings emerged as the most traded stock by volume.
source: leadership