The Nigerian stocks market recorded a gain of N962 billion for investors on Thursday, extending its bullish rally to the fifth consecutive trading session.
The uptrend was driven by broad-based buying interest across banking, consumer goods, industrial, insurance and telecommunications stocks. The market capitalisation rose by 0.62 per cent, increasing from N155.585 trillion at the opening of trading to N156.547 trillion at the close.
Similarly, the All-Share Index, ASI, advanced by 1,498.75 points, or 0.62 per cent, from 242,459.98 to 243,958.75. Consequently, the market’s year-to-date return improved to 56.77 per cent.
Market breadth also closed on a positive note, with 29 gainers against 25 losers, reflecting sustained investor confidence in equities.
Also Read: Bullish stock market gains N1.86tn
International Breweries led the gainers’ chart, rising 10 per cent to close at N12.10.
First HoldCo followed with a 9.96 per cent, settling at N69.55 while Abbey Mortgage Bank gained by 9.88 per cent, finishing at N8.90 per share.
Trans-Nationwide Express grew by 9.76 per cent, ending the session at N3.26 and Honeywell Flour Mills increased by 9.68 per cent, closing at N17 per share.
On the other hand, Geregu and Thomas Wyatt led the losers’ chart by 10 per cent each, settling at N825.70 and N2.70 per share respectively.
Mc Nicholas declined by 9.76 per cent, finishing at N5.55, UPDC went down by 9.20 per cent, settling at N3.95 and Neimeth International Pharmaceutical dipped by 8.16 per cent, ending the session at N9 per share.
Market activity strengthened during the session, with total trading volume surging by 219.47 per cent to 1.66 billion shares valued at N111.98 billion across 44,780 deals. First HoldCo dominated trading, emerging as the most active stock by both volume and value.
Investors traded 1.26 billion shares of the company’s stock, representing 75.98 per cent of the total volume, while the value of transactions stood at N85.61 billion, accounting for 76.47 per cent of the day’s total traded value.
NAN
