Nigeria’s equity market continued its upward trend on Thursday, with investors adding N369 billion to their portfolios by the close of trading. The All-Share Index rose 576.27 points, or 0.28 percent, to settle at 203,161.81, bringing the year-to-date return to 30.56 percent.
Trading activity, however, saw a decline. A total of 652.86 million shares valued at N39.82 billion were exchanged in 51,101 deals, compared to Wednesday’s 1.01 billion shares worth N40.57 billion across 52,723 transactions. This represented a 35.17 percent drop in volume, a two percent decrease in value, and a three percent dip in the number of deals.
Despite the reduced activity, market capitalization increased by 0.28 percent, rising from N130.404 trillion at the opening to N130.773 trillion at the close. This growth reflects sustained investor confidence in the Nigerian stock market, even as trading volumes ease.
On the gainers’ side, Trans-Nationwide Express led with a 9.94 percent increase to N3.43 per share. International Energy Insurance followed with a 9.84 percent rise to N3.46, while UPDCredit appreciated by 9.63 percent to close at N7.40. Guinea Insurance gained 9.52 percent to settle at N1.15, and Regency Alliance Insurance rose by 9.18 percent to close at N1.07 per share.
In terms of trading volume, Access Corporation recorded the highest activity with 121.70 million shares traded, while Guaranty Trust Holding Company led in value at N8.10 billion.
The market breadth closed negative, with 31 decliners outweighing 30 gainers. LivingTrust Mortgage Bank topped the losers’ chart with a 10 percent drop to close at N4.32 per share. Other notable decliners included RT Briscoe, Tantalizers, Livestock Feeds, and VFD Group.
The Nigerian equities market’s sustained rally underscores ongoing investor optimism, even as trading activity moderates. Analysts suggest that the market’s resilience, despite global economic headwinds, reflects strong domestic fundamentals and improving corporate earnings. As the year progresses, investors will be watching for further policy clarity and economic reforms that could bolster market sentiment and drive further gains.
