Lagos: Nigerian equities rallied on Thursday, with investors snapping up select stocks and lifting the market by ₦73 billion. The surge reflects renewed buying interest across key counters, underscoring investor confidence in the bourse’s resilience.
This renewed buying interest, particularly in selected large- and mid-cap stocks such as International Energy Insurance, ABC Transport, Unilever Nigeria, Academy Press, and 14 other equities, helped push the market back into positive territory.
Driven by these gains, market capitalisation surged from N159.660 trillion to N159.733 trillion, marking a sharp increase of N73 billion or 0.05 per cent.
The All-Share Index surged from 249,062.37 to 249,175.39, up 113.02 points or 0.05 per cent.
Driven by these gains, the Year-to-Date return surged to 60.13 per cent.
Despite the gains, market breadth painted a bleak picture: 44 losers, only 19 gainers.
Berger Paints led the losers’ chart by 10 per cent, finishing at N147.60. Learn Africa trailed by 9.96 per cent, closing at N11.75, while Daar Communications shed by 9.95 per cent, ending the session at N1.90 per share. 93 per cent, settling at N12.79 and May & Baker declined by 9.61 per cent, finishing at N46.55 per share.
Conversely, International Energy Insurance led the gainers’ chart by 10 per cent, closing at N3.41, ABC Transport followed by 9.93 per cent, settling at N9.08, and Unilever Nigeria gained by 9.80 per cent, finishing at N168 per share.appreciated by 9.74 per cent, ending the session at N8.45, and Eunisell Interlinked grew by 9.41 per cent, closing at N209.95 per share.
Beyond price trends, the market surged higher for the day, as total traded volume skyrocketed by 76.39 per cent to 1.06 billion shares, valued at N30.97 billion across 62,448 deals.
Sterling Nigeria dominated the volume chart, trading 322.68 million shares and commanding 30.48 per cent of the day’s total volume.
Meanwhile, Aradel topped the value chart with transactions worth N5.06 billion, representing 16.35 per cent of the total value traded.