The Nigerian Exchange (NGX) extended its bullish momentum on Thursday as investors took positions in high-performing mid- and large-cap stocks.
The All-Share Index (ASI) advanced by 0.33% to close at 146,204.34 points, while the overall market capitalization rose by ₦302 billion to ₦92.80 trillion.
Market Overview
Investor sentiment remained upbeat following the October 6 rally, driven by renewed interest in key counters across the insurance, industrial goods, and energy sectors.
The day’s trading activity reflected stronger market breadth with gains in oil and manufacturing equities offsetting modest declines in consumer goods and select banking stocks.
Total market turnover stood at ₦27.43 billion, exchanged in 24,691 deals, as investors traded 346.99 million shares, signaling moderate trading activity compared to earlier sessions this week.
Top Gainers
Leading the chart was Eunisell Interlinked Plc, which appreciated by 10.00% to close at ₦44.00 per share, reflecting sustained investor confidence in its operational performance.
Caverton Offshore Support Group Plc also gained 10.00%, settling at ₦6.93, on improved sentiment within the oil and logistics segment.
Lotus Halal Equity Exchange Traded Fund (LOTUSHAL15) surged 10.00% to ₦113.86, extending its strong run from the prior week, while SUNU Assurances Nigeria Plc advanced 9.90% to ₦5.77 on continued buy pressure.
Rounding off the top gainers was International Medical Group (IMG), which appreciated by 9.10% to ₦35.95.
Top Losers
On the flip side, FGSUK 2031S4 Bond led the laggards with a steep 28.57% decline to ₦85.00, reflecting selling pressure on sovereign instruments.
FTN Cocoa Processors Plc dropped 6.67% to ₦5.60, while Tantalizers Plc fell 3.35% to ₦2.31.
Banking equities also recorded mild losses as Fidelity Bank Plc dipped 2.38% to ₦20.50, and PZ Cussons Nigeria Plc declined 2.18% to ₦38.15 following profit-taking activities.
Top Traded Stocks
Trading activity was dominated by heavyweights in both the banking and industrial sectors.
Fidelity Bank Plc led with a volume of 42.01 million shares valued at ₦861.53 million, followed by Dangote Cement Plc, which recorded 20.92 million shares worth ₦11.00 billion, highlighting strong institutional participation.
Sterling Financial Holdings Company Plc transacted 19.82 million shares valued at ₦162.93 million, while Jaiz Bank Plc and Chams Holding Company Plc exchanged 19.49 million and 17.69 million shares worth ₦85.27 million and ₦76.98 million, respectively.
Bonds and ETFs Performance
The bond market closed largely flat, with all instruments maintaining previous price levels.
In the ETF segment, performance was mixed. Stanbic IBTC ETF 30 appreciated by ₦20.00 to close at ₦520.00, while VETGRIF30 gained ₦5.00 to ₦58.00.
NewGold ETF remained unchanged at ₦57,000.00, while VSPBONDETF and VETBANK held steady at ₦203.10 and ₦15.00, respectively.
Market Outlook
The NGX continues to demonstrate resilience as investors rebalance their portfolios in anticipation of upcoming Q3 earnings releases.
The sustained rally across the oil and gas, insurance, and industrial sectors points to improving market confidence amid stable macroeconomic indicators.
Analysts expect the All-Share Index to maintain its positive trajectory in the near term, provided buying momentum persists in blue-chip stocks and monetary conditions remain supportive.