The Nigerian Stock Market continued its upward trend on Thursday, with investors gaining N138 billion. The market capitalization of the Nigerian Exchange Limited rose by 0.13 percent to N102.822 trillion, marking the 19th consecutive day of gains and indicating sustained buying interest and growing investor confidence.
The All‑Share Index increased by 214.80 points, or 0.13 percent, closing at 160,806.56. Gains were driven by 29 stocks, notably Neimeth International Pharmaceutical, May and Baker, and Etranzact International. Despite the overall rise, market breadth was negative, as 41 stocks declined while only 32 advanced. International Energy Insurance led the decliners, falling 9.90 percent to close at N2.73 per share.
Chams led trading by volume, with 60.5 million shares valued at N236.8 million exchanged. Other actively traded stocks included Linkage Assurance, Access Corporation, Champion Breweries, and Zenith Bank, which recorded the highest value traded at N1.51 billion.
Market activity slowed, with 645.06 million shares valued at N16.4 billion traded in 44,410 transactions, compared with 1.44 billion shares worth N20.7 billion exchanged in 49,286 deals on Wednesday.
President Bola Ahmed Tinubu hailed the Nigerian Exchange’s milestone of surpassing a market capitalization of N100 trillion. The sustained growth of the Nigerian Stock Market reflects increasing investor confidence and a positive outlook for the economy, suggesting that continued investor attraction will likely have a beneficial impact on the country’s economic development. The achievement underscores the market’s potential for further growth and investment opportunities.
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