The Nigerian stock market surged on Thursday, gaining N833 billion, driven by Dangote Cement, BUA, and First Bank Holding. This bullish momentum lifted the Nigerian Exchange Limited’s market capitalization by 1.02 percent, closing at N82.417 trillion, compared to N81.584 trillion recorded the previous day.
The NGX All-Share Index also saw a notable increase of 1,316.79 points, reaching 130,283.87, reflecting renewed investor confidence in large-cap stocks. This positive movement in the Nigerian stock market signals growing optimism as institutions increase their holdings.
Thursday’s rally was primarily powered by robust buying interest in leading companies like Dangote Cement, BUA Cement, First Bank Holding, and CHAMS, among others. Despite this, the market breadth ended negative, with 47 losers outpacing 30 gainers.
BUA Cement led the gainers, jumping 10% to close at N112.20, closely followed by Dangote Cement with a 9.99% increase to N473.30. CHAMS also gained 9.96%, closing at N3.09, while First Bank Holding rose 9.94% to N35.40. Meanwhile, ABC Transport climbed 9.85%, ending the session at N5.69.
Conversely, FG192038S2 topped the losers’ chart, falling by 17% to N83.00, while Haldane McCall declined by 10%, closing at N4.68. Other notable decliners included Berger Paints, Mecure, and John Holt.
Trade volume also remained strong, with 1.19 billion shares worth N42.76 billion exchanged across 37,418 deals. This contrasts with Wednesday’s turnover of 11.67 billion shares valued at N363.4 billion over 36,635 deals.
Access Corporation led the activity chart, trading 168.099 million shares worth N4.62 billion, followed by First Bank Holding with 86.42 million shares worth N3.04 billion. Zenith Bank handled 83.36 million shares worth N6.29 billion, while Nigerian Breweries and AIICO Insurance also recorded high trade volumes.
📌 For more updates on the Nigerian stock market, read NGX closes higher as banking stocks rally.
