Nigerian Stock Market Adds N677bn in Sustained Bullish Run

Nigeria’s equities market extended its bullish momentum for the second day on Thursday, posting a significant gain of ₦677 billion in market capitalisation.

According to the Nigerian Exchange, the total market value rose by 0.92 percent to close at ₦74.358 trillion, up from ₦73.681 trillion recorded the previous day.

Similarly, the All-Share Index jumped by 1,074.26 points, reaching 117,861.13, compared to 116,786.87 recorded on Wednesday.

This rally was driven by strong buying interest in both mid- and large-cap stocks. Top performers included Ikeja Hotel, Beta Glass, Legend Internet, University Press, and Eterna, alongside 38 other rising stocks.

The market breadth was positive, with 43 stocks recording gains while 20 declined.

Among the top gainers, Ikeja Hotel led with a 10 percent surge to close at ₦15.40, followed closely by Beta Glass which gained 9.98 percent to finish at ₦276. Legend Internet advanced 9.92 percent to ₦7.20, while University Press and Eterna rose by 9.85 percent and 9.82 percent, closing at ₦6.02 and ₦42.50 respectively.

On the downside, Guinea Insurance lost 9.21 percent to close at ₦0.69. Haldane McCall fell by 5.88 percent to ₦4.00, Cileasing declined by 5.84 percent to ₦4.35, and McNichols Plc dipped 5.58 percent to ₦2.20. Fidson Healthcare also dropped by 4.65 percent, settling at ₦41.00.

A total of 893.97 million shares worth ₦22.03 billion were traded in 17,257 deals. This marked an increase in volume from the 640.08 million shares valued at ₦26.01 billion exchanged in 19,727 deals on Wednesday.

Champion Breweries led the activity chart with 332.29 million shares valued at ₦2.27 billion. Guaranty Trust Holding Company followed with 62.67 million shares worth ₦5 billion, while PZ Cussons, Zenith Bank, and Access Corporation also featured among the top five traded stocks.