Nigerian equities market ended Thursday on a high note, delivering a N190 billion windfall for investors as bullish momentum prevailed.
Fueled by robust demand for stocks such as Cileasing, Guinness Nigeria, Livingtrust Mortgage Bank, Etranzact, and Regency Alliance Insurance, alongside 36 other advancing stocks, the market showcased strong performance. According to market data, the total market capitalisation, which began at N88.813 trillion, climbed by N190 billion, or 0.21%, to close at N89.003 trillion.
Similarly, the All-Share Index advanced by 0.21%, gaining 300.49 points to settle at 140,665.85, up from 140,365.36 recorded the previous day. “The bullish close reflects sustained investor confidence in key sectors,” noted a market analyst from the Nigerian Exchange Group.
The market breadth favored gainers, with 41 stocks advancing against 12 decliners. Leading the charge, Guinness Nigeria, Cileasing, and Livingtrust Mortgage Bank each surged by 10%, closing at N143, N6.60, and N4.62 per share, respectively. Etranzact followed closely with a 9.68% rise to N13.60, while Regency Alliance Insurance jumped 9.42% to end at N1.51 per share.
On the downside, NEM Insurance topped the losers’ chart, dropping 9.94% to N28.10, and AXA Mansard Insurance fell 4.76% to close at N15.99.
Other notable decliners included Computer Warehouse Group, down 4.71% to N16.20, Ellah Lakes, which shed 4.29% to N13.40, and Consolidated Hallmark Holdings, declining 4.28% to N4.03 per share.
Market activity saw a decline in trading volume and value, with 378.2 million shares worth N12.4 billion exchanged in 22,935 deals, compared to 767.7 million shares valued at N40.64 billion in 24,837 deals on Wednesday.
“The dip in trading volume suggests cautious participation despite the bullish close,” observed a financial expert.
Ja Paul Gold led the activity chart by volume, with 42.1 million shares traded for N111.9 million.
Zenith Bank trailed with 27.9 million shares worth N1.87 billion, followed by United Bank for Africa with 27.3 million shares valued at N1.3 billion. Access Corporation and Nigerian Breweries also saw significant activity, trading 25.3 million shares worth N669.1 million and 18.5 million shares worth N1.3 billion, respectively.
