The Nigerian equities market extended its positive run on Thursday, with market capitalisation rising by ₦21.74 billion as gains in selected stocks helped sustain the rally for a second consecutive trading session.
Trading data showed that the Nigerian Exchange Limited (NGX) All-Share Index advanced by 33.48 points, or 0.01 per cent, to close at 247,707.13 points, compared with 247,673.65 points recorded in the previous session.
Market capitalisation increased to ₦160.83 trillion from ₦160.81 trillion, reflecting the day’s modest appreciation in equity values.
Investors traded 286.68 million shares in 30,186 deals, compared with 314.90 million shares exchanged in the preceding session. The decline in trading volume suggests that the market’s upward movement occurred alongside a reduction in the number of shares traded.
Market breadth remained positive, with 26 stocks advancing against 24 decliners, indicating that gainers narrowly outnumbered losing equities.
Among the stocks supporting the market were Ecobank Transnational Incorporated, First HoldCo, Fidelity Bank and United Bank for Africa. Ecobank Transnational gained 1.28 per cent to close at ₦71.40, while First HoldCo rose 0.84 per cent to ₦138.00.
Fidelity Bank advanced 0.50 per cent to ₦20.10, while UBA appreciated by 0.35 per cent to ₦43.15.
The oil and gas segment was among the stronger-performing sectors, while the growth and main-board indices also recorded advances. However, losses in selected large-cap stocks limited the broader market’s gains.
MTN Nigeria declined by 2.84 per cent to ₦820.00, while NASCON Allied Industries recorded a steeper decline of 9.48 per cent to ₦171.00.
The contrasting performance of individual stocks underscores the importance of selective trading and company-specific fundamentals in an environment where the headline index can remain relatively stable despite considerable movements across individual counters.
Investors will continue to assess corporate earnings, interest-rate expectations, inflation trends and the broader economic outlook when making portfolio decisions.
The latest session also highlights the growing significance of banking stocks within the market, as investors weigh recapitalisation outcomes, capital adequacy, profitability and prospects for lending growth.
Although the latest gain was modest, a sustained advance supported by broader participation and stronger trading activity would provide a more convincing signal of market momentum.
