The Nigerian Exchange (NGX) sustained its positive momentum on Thursday, closing higher for the fourth consecutive trading session as strong demand for large-cap stocks lifted market performance.
The All-Share Index rose by 2,583.60 points, representing a 1.23 per cent increase, to close at 211,901.01 points, compared with the previous day’s 209,317.41 points.
Market capitalisation also advanced by ₦1.663 trillion, rising from ₦134.773 trillion to ₦136.436 trillion, reflecting renewed investor appetite across key sectors.
Sector performance was largely positive, with the energy index leading gains at 4.76 per cent, followed by banking stocks which rose by 2.49 per cent. The consumer goods index also posted a modest gain of 0.34 per cent.
However, the insurance and industrial goods indices declined by 0.74 per cent and 0.03 per cent respectively.
Top gainers for the session included Guinea Insurance and Trans-Nationwide Express, which both rose by 10 per cent. Aradel Holdings gained 9.99 per cent, Ecobank appreciated by 9.97 per cent, while DAAR Communications advanced by 9.93 per cent.
On the losers’ chart, Ikeja Hotel dropped by 9.73 per cent, followed by Coronation Insurance, CAP, International Energy Insurance, and McNichols, which all recorded losses.
Market sentiment remained positive, with 43 gainers outpacing 21 losers, indicating sustained bullish breadth.
Trading activity, however, declined compared to the previous session. A total of 585 million shares valued at ₦34.8 billion were exchanged in 45,559 deals, down from Wednesday’s 706.4 million shares worth ₦41.9 billion.
Zenith Bank led the activity chart with 61.7 million shares traded, followed by UBA, Access Holdings, Secure Electronic Technology, and GTCO.
Analysts attribute the continued rally to strong demand for fundamentally sound stocks and renewed confidence in the equities market.