The Nigerian stock market sustained its positive momentum on Thursday, with investors gaining N479 billion in value amid renewed interest in major stocks.
Market capitalisation rose by 0.49 per cent to N98.059 trillion, compared to N97.580 trillion on Wednesday. Similarly, the All-Share Index advanced by 753.65 points or 0.49 per cent to close at 154,489.90.
The uptrend was driven by sustained buying interest in PZ Cussons, The Initiates, Aso Savings, CAP, and Lafarge WAPCO, among others.
Trading activity improved significantly as investors exchanged 926.9 million shares valued at N26.9 billion in 30,703 deals, representing a 57 per cent increase in volume, 12 per cent growth in turnover, and an 8 per cent rise in transactions compared to the previous session.
Japaul Gold topped the activity chart with 436.04 million shares worth N1.1 billion, followed by Fidelity Bank with 77.3 million shares valued at N1.5 billion. Lafarge WAPCO traded 46.4 million shares worth N6.9 billion, while Access Corporation and National Salt Company exchanged 32.6 million and 17.9 million shares valued at N804.8 million and N1.9 billion, respectively.
On the gainers’ table, PZ Cussons and The Initiates led with a 10 per cent rise each to close at N42.90 and N14.30 per share, respectively. Aso Savings gained 9.09 per cent to close at 60k, CAP appreciated by 8.82 per cent to N74, while Lafarge WAPCO advanced 8.63 per cent to N150.45 per share.
However, market breadth closed negative with 37 losers against 34 gainers. John Holt led the laggards, dropping 9.72 per cent to N6.50, followed closely by Multiverse Mining, which fell 9.71 per cent to N12.55. Stanbic IBTC declined 9.15 per cent to N107.20, while Nigerian Breweries and UPDCreit shed 7.83 per cent and 7.55 per cent to close at N70 and N7.35, respectively.
Analysts attributed the sustained rally to renewed investor optimism and strong performance from blue-chip and mid-tier equities ahead of upcoming corporate earnings releases.
