The Nigerian equities market sustained its upward trajectory on Thursday, recording a gain of N479bn in market capitalisation as investors continued to respond positively to ongoing economic reforms and improving macroeconomic indicators.
At the close of trading, the Nigerian Exchange index advanced by 753.65 points, or 0.49 per cent, to close at 154,489.90 points, while the market capitalisation appreciated to N98.1tn from the N97.6tn recorded in the previous session.
According to the capital market analysis by the Punch newspaper on Friday, the week-to-date performance showed a 4.14 per cent increase, reflecting renewed buying interest in blue-chip stocks across key sectors.
It added that market data showed that a total of 926.91 million shares valued at N26.94bn were traded in 30,685 deals, representing a 57 per cent improvement in volume, a 12 per cent rise in turnover, and an eight per cent increase in the number of deals compared to the previous trading day.
In all, 130 listed equities participated in the day’s trading, with 34 gainers and 37 losers. PZ Cussons Nigeria led the gainers’ chart with a 10 per cent rise to close at N42.90 per share, followed by The Initiates Plc, which also gained 10 per cent to close at N14.30. Aso Savings and Loans appreciated 9.09 per cent to N0.60, while CAP Plc added 8.82 per cent to settle at N74.00 per share. Lafarge WAPCO climbed 8.63 per cent to N150.45 amid renewed investor interest in industrial stocks.
On the flip side, John Holt Plc topped the losers’ chart, declining 9.72 per cent to N6.50 per share. Multiverse Mining and Exploration dropped 9.71 per cent to N12.55, while Stanbic IBTC Holdings and Nigerian Breweries shed 9.15 per cent and 7.83 per cent, closing at N107.20 and N70.00 per share, respectively.
Japaul Gold and Ventures led in trading volume with 436.04 million shares worth N1.09bn, followed by Fidelity Bank with 77.3 million shares valued at N1.53bn. Lafarge WAPCO traded 46.4 million shares worth N6.98bn, while Access Holdings exchanged 32.6 million shares valued at N804.76m. NASCON Allied Industries also featured among the top trades with 17.9 million shares worth N1.99bn.
The top five stocks by value were Lafarge WAPCO (N6.98bn), Seplat Energy (N2.31bn), NASCON (N1.99bn), Presco Plc (N1.75bn), and Aradel Holdings (N1.62bn).
Sectoral performance showed mixed sentiments as the Industrial Index surged 3.09 per cent, the Premium Index rose 1.67 per cent, and the Oil and Gas Index appreciated 1.13 per cent. However, the Main Board Index declined slightly by 0.17 per cent.
The report noted that some analysts attributed the sustained market rally to reform-led optimism, stronger foreign exchange liquidity, and improving macroeconomic coordination between fiscal and monetary authorities.
According to them, the liberalisation of the naira, removal of fuel subsidies, and passage of the new Investments and Securities Act have contributed to renewed investor confidence.
GIK/APA