The Nigerian equities market closed Thursday’s trading session on a positive note as a late rally in banking stocks lifted the overall market capitalisation by N370bn.
The benchmark All-Share Index advanced by 0.28 per cent, gaining 576.27 points to close at 203,161.81 points. Similarly, the total market value of listed equities climbed to N130.774tn at the close of trading.
Market performance was largely supported by gains in medium and large-cap stocks, particularly Nestle Nigeria, Aradel Holdings, Nigerian Exchange Group, Zenith Bank, and Lafarge Africa.
Despite the upward movement in the headline index, market breadth ended evenly balanced. A total of 30 stocks recorded gains while another 30 closed in negative territory.
Trans-Nationwide Express led the gainers’ chart with a 9.94 per cent increase to close at N3.43 per share. International Energy Insurance followed closely, rising by 9.84 per cent to settle at N3.46 per share.
Other notable gainers included Guinea Insurance, which appreciated by 9.52 per cent, Regency Alliance Insurance with a 9.18 per cent gain, and Wapic Insurance, which climbed by 9.09 per cent during the session.
On the losing side, LivingTrust Mortgage Bank topped the decliners’ list after shedding 10 per cent to close at N4.32 per share. R.T. Briscoe also recorded a sharp decline of 9.94 per cent, while Tantalizers dropped by 9.55 per cent.
Livestock Feeds and VFD Group rounded off the laggards, declining by 9.40 per cent and 8.85 per cent respectively.
Meanwhile, trading activity slowed significantly compared to the previous session. Total traded volume fell by 35.17 per cent to 652.863 million shares valued at N39.820bn, exchanged in 51,101 deals.
The banking sector dominated the activity chart, with Access Holdings leading in traded volume at 121.702 million shares valued at N3.165bn. Guaranty Trust Holding Company followed with 62.274 million shares worth N8.096bn.
Chams Holding Company, Zenith Bank, and United Bank for Africa also recorded strong trading volumes during the session.
Looking ahead, analysts at Cowry Assets Management Limited expect the market to face mild pressure in the next session as investors begin end-of-week profit-taking activities, which could weigh slightly on market sentiment.
