Market News
Investors gain N3.2tn as bulls dominate NGX - PUNCH
By Jide Ajia
Investors gained N3.26tn at the close of trading on Thursday as the Nigerian equities market extended its bullish run, driven by sustained buying interest in large-cap and consumer-linked stocks.
Market capitalisation, which represents the total value of listed shares, opened the session at N152.728tn and rose significantly to close at N155.994tn, reflecting a robust renewal of investor appetite. This upward momentum was further mirrored in the All-Share Index, which advanced from an opening of 237,205.59 to close at 242,277.81.
The day’s performance was characterised by positive market breadth, with 46 gainers emerging against 40 losers, highlighting the dominance of the bulls across several key sectors.
Leading the pack of gainers were major blue-chip companies, including CAP, FTN Cocoa, UACN, Unilever, and Seplat, all of which appreciated by the maximum daily limit of 10.00 per cent. Specifically, Seplat recorded a massive rally to close at N11,495.00, while Unilever and UACN climbed to N137.50 and N181.50, respectively.
Conversely, the market recorded some laggards led by Alex, which declined by 9.95 per cent to close at N9.50, followed by Royal Exchange and Legend Identity, which shed 9.93 per cent and 9.32 per cent, respectively.
Other stocks, such as Austin Laz and Neimeth, also featured on the losers’ chart as some investors engaged in profit-taking to moderate the general market advance.
Meanwhile, heavyweight counters like Dangote Cement, Julius Berger, and Custodian Investment remained flat, closing the session with no price change.
Investor sentiment remained broadly positive throughout the day as market participants strategically positioned themselves ahead of upcoming corporate disclosures and anticipated macroeconomic shifts.
The strong demand for select large-cap stocks suggests a high level of confidence in the market’s near-term trajectory. Financial analysts noted that the current surge in valuation is a testament to the resilience of the market, which continues to provide significant returns for investors despite selective selling in mid-cap categories.
