The Nigerian Exchange (NGX) closed Thursday’s session on a bullish note, extending its upward trajectory as sustained buying interest in medium- and large-cap stocks lifted the benchmark indices by 0.52 per cent.
Market capitalisation added ₦479 billion to close at ₦92.730 trillion, up from ₦92.251 trillion recorded in the previous session. Similarly, the All-Share Index (ASI) advanced by 756.85 points to settle at 146,570.71.
The market breadth remained positive, with 44 gainers against 34 decliners. AIICO Insurance, Cornerstone Insurance, AXA Mansard, and University Press all appreciated by a maximum of 10 per cent, closing at ₦3.19, ₦5.83, ₦13.31, and ₦5.61 per share, respectively. Guinness Nigeria also posted an impressive 9.98 per cent gain to close at ₦141.60 per share.
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Conversely, CHAMS led the losers’ chart with a 9.94 per cent decline to ₦2.90 per share. Austin Laz fell 9.83 per cent to ₦2.11, while Caverton Offshore Support Group dipped 9.65 per cent to ₦6.37. UAC of Nigeria lost 9.44 per cent to close at ₦81.50, and John Holt dropped 9.43 per cent to ₦7.20 per share.
Trading activity slowed compared to the previous session, with 1.98 billion shares worth ₦27.26 billion exchanged in 35,291 deals, against 2.69 billion shares valued at ₦32.6 billion traded in 35,137 deals on Wednesday.
Linkage Assurance led the activity chart with 372.40 million shares valued at ₦703.1 million. Prestige Assurance followed, trading 249.33 million shares worth ₦357.45 million, while Veritas Kapital Assurance accounted for 181.86 million shares valued at ₦362.99 million. Sterling Nigeria exchanged 121.02 million shares worth ₦968.29 million, and Lasaco Assurance traded 58.7 million shares valued at ₦217.5 million.
Analysts note that the continued bullish sentiment is supported by investor positioning in dividend-paying and fundamentally sound stocks ahead of corporate earnings releases. However, profit-taking in select counters remains likely in the coming sessions.
