Nigeria’s stock market continued its bullish run on Thursday, gaining N240 billion in market capitalisation as investor sentiment remained upbeat. This marks the fifth consecutive session of gains on the Nigerian Exchange.
The market capitalisation rose to N68.652 trillion, up from N68.412 trillion, representing a 0.35% increase. Similarly, the All-Share Index climbed by 382.13 points to close at 109,231.96.
Market analysts attributed the sustained rally to strong investor appetite for medium- and large-cap stocks across major sectors.
A total of 38 stocks recorded price appreciation, outpacing 21 losers.
Top Gainers
- Beta Glass led the chart with a 10% gain to close at N160.65
- Chellaram rose 10% to N9.46
- International Energy Insurance added 9.93% to finish at N1.66
- May & Baker gained 9.78% to close at N10.10
- Academy Press also rose by 9.78%, ending at N3.93
Top Losers
- Abbey Mortgage Bank dropped 10% to N7.47
- Livestock Feeds fell 9.77% to N7.85
- Legend Internet Plc declined by 8.50% to N9.15
- Deap Capital Management shed 6.48% to close at N1.01
Trading activity saw a slight dip, with 554.07 million shares valued at N14.35 billion exchanged in 16,704 deals, compared to 587.47 million shares worth N18.66 billion in 17,496 deals recorded previously.
Top Traded Stocks
- Fidelity Bank led the volume chart with 69.76 million shares worth N1.41 billion
- Access Corporation followed with 65.76 million shares valued at N1.44 billion
- Tantalizer traded 55.06 million shares worth N126.76 million
- GTCO exchanged 45.97 million shares worth a hefty N3.10 billion
- FBN Holdings traded 22.71 million shares valued at N571.60 million
Market watchers expect the positive trend to continue as investor confidence strengthens across sectors.
