Nigeria’s equities market sustained its upward momentum on Thursday, adding ₦191 billion to investors’ wealth as renewed demand for medium and large-cap stocks pushed key market indicators higher despite weaker trading activity.
The market capitalisation increased by 0.12 per cent to close at ₦158.278 trillion, up from ₦158.086 trillion recorded in the previous session. The benchmark All-Share Index (ASI) also gained 297.10 points, or 0.12 per cent, to settle at 245,209.34, compared with 244,912.24 on Wednesday.
The positive performance was driven by renewed buying interest across selected medium and large-cap stocks, reinforcing the market’s bullish sentiment. Year-to-date return improved further to 57.58 per cent.
However, market breadth remained negative, with 35 stocks declining against 24 gainers, indicating that losses outweighed advances despite the overall market rise.
Eterna topped the gainers’ table after appreciating by 10 per cent to close at ₦36.30 per share. AVA Capital followed with a 9.63 per cent gain to ₦11.95, while Legend Internet rose 9.52 per cent to ₦4.60.
FCMB advanced by 8.55 per cent to ₦12.70, buoyed by strong investor demand, while Honeywell Flour appreciated by 7.98 per cent to finish at ₦17.60 per share.
On the downside, Fortis Global Insurance recorded the steepest decline, shedding 10 per cent to close at ₦2.52. Ecobank Transnational Incorporated lost 9.99 per cent to ₦72.10, while Chellaram dropped 9.85 per cent to ₦11.90.
Thomas Wyatt Nigeria fell by 9.83 per cent to ₦3.21, while UPDC declined 8.45 per cent to close at ₦3.25 per share.
Trading activity, however, slowed during the session. Total volume traded fell by 35.47 per cent to 531.77 million shares valued at ₦20.46 billion, exchanged in 44,826 deals.
FCMB emerged as the most actively traded stock by volume, accounting for 131.74 million shares or 24.77 per cent of total transactions.
FIRSTHOLDCO led the market by value, with trades worth ₦5.95 billion, representing 29.09 per cent of the total value exchanged during the session.
