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NGX records 10th consecutive gain as market capitalisation rises to N92.8 trillion.
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Investors pocket N308 billion profit amid positive market breadth.
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Eunisell Interlinked and Caverton Offshore emerge top gainers with 10% increase each.
Data released by the Nigerian Exchange Limited (NGX) showed that the market capitalisation, which opened at N92.490 trillion, appreciated by 0.33 percent to close at N92.798 trillion at the end of trading.
The Nigerian Stock Market sustained its bullish momentum on Thursday, marking the 10th consecutive session of gains as investors recorded a total profit of N308 billion.
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Similarly, the All-Share Index (ASI) rose by 485.25 points, representing a 0.33 percent increase, to close at 146,204.34, compared to 145,719.09 posted on Wednesday.
Market analysts attributed the positive performance to renewed investor confidence and increased trading in key stocks such as Eunisell Interlinked, Caverton Offshore Support Group, Sunu Assurances, Industrial and Medical Gases, and Mecure, among others.
As a result, the market breadth closed positive with 32 gainers against 21 losers, reflecting broad-based investor optimism.
Eunisell Interlinked and Caverton Offshore Support Group topped the gainers’ chart with a 10 percent increase each, closing at N44 and N6.93 per share, respectively. On the flip side, FTN Cocoa Processors led the losers’ table, dropping by 6.67 percent to close at N5.60 per share.
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Despite a slight decline in the number of deals and traded volumes, trade value improved significantly, underscoring a stronger appetite for high-value transactions.
In total, 346.99 million shares valued at N27.43 billion were traded in 24,691 deals, compared to 525.72 million shares worth N13.61 billion exchanged in 25,597 deals on Wednesday.
Fidelity Bank emerged as the most active stock, leading the activity chart with 42.01 million shares valued at N861.54 million.
The NGX has maintained its bullish trajectory from the end of last month till date, buoyed by improved investor sentiment, stabilising macroeconomic indicators, and sectoral recovery.
