Nigerian Stock Market Extends Bullish Run, Investors Gain N1.71 Trillion
The Nigerian equities market continued its upward trajectory on Thursday, maintaining the positive momentum from the previous trading session. Sustained buying interest across key large- and mid-cap stocks propelled the market forward, resulting in significant gains for investors.
The benchmark All-Share Index (ASI) advanced by 1.40% to close at 193,096.49 points, up from 190,427.96 points recorded in the previous session. This impressive performance translated to investors gaining N1.71 trillion, pushing the year-to-date (YTD) return to an impressive 24.09%.
Market Breadth and Sector Performance
Market breadth remained firmly positive, with 52 gainers significantly outnumbering 26 decliners. The bullish sentiment was broad-based, with particular strength observed in banking, consumer goods, and industrial stocks. These sectors provided substantial support for the overall market rally, reflecting renewed investor confidence across major counters.
Market capitalisation rose in line with the ASI's 1.40% gain, further confirming the widespread nature of the market advance. The synchronized movement between the index and market capitalisation indicates comprehensive market participation rather than isolated stock movements.
Top Performers and Decliners
Several companies stood out as top gainers during Thursday's trading session. Deap Capital Management & Trust Plc rose from N6.30 to N6.93, gaining N0.63 for a 10.00% increase. Okomu Oil Palm Company Plc advanced from N1,327.00 to N1,459.70, up N132.70 for another 10.00% gain. FTG Insurance Plc increased from N0.50 to N0.55, gaining N0.05 for a 10.00% rise.
Other notable gainers included Infinity Trust Mortgage Bank Plc, which climbed from N13.05 to N14.35 for a 9.96% increase, and Zicon International Plc, which rose from N14.36 to N15.79 for a 9.96% gain.
On the declining side, Tripple Gee & Company Plc led the losers, falling from N6.00 to N5.40 for a 10.00% decrease. Multiverse Mining & Exploration Plc dropped from N28.00 to N25.20 for a 10.00% decline, while NSL Tech Plc decreased from N2.00 to N1.80 for another 10.00% loss.
Trading Activity and Volume
Despite the positive market performance, trading activity showed a significant decline. Total volume traded dropped by 76.17% to 874.07 million shares valued at N37.54 billion across 60,955 deals. This reduction in trading volume suggests that while prices were rising, fewer shares were changing hands compared to previous sessions.
Japaul Gold & Ventures Plc recorded the highest trading volume with 80.12 million shares worth N293.25 million, accounting for 9.17% of total volume traded. NSL Tech Plc followed with 71.77 million shares valued at N136.49 million, while Mutual Benefits Assurance Plc traded 58.68 million shares worth N277.56 million.
In terms of value traded, Guaranty Trust Holding Company Plc led with transactions worth N6.20 billion, representing 16.51% of total traded value. Zenith Bank Plc followed with N4.52 billion in transactions, while MTN Nigeria Communications Plc also ranked among the top traded stocks by value.
Market Context and Investor Sentiment
The sustained bullish run in the Nigerian equities market comes amid generally positive investor sentiment toward the country's economic prospects. The 24.09% year-to-date return indicates strong performance throughout 2026, with Thursday's session adding significantly to these gains.
The concentration of gains in banking, consumer goods, and industrial stocks suggests investors are particularly optimistic about these sectors' prospects. The broad-based nature of the rally, with 52 gainers versus 26 decliners, indicates widespread confidence rather than isolated optimism about specific companies.
Market analysts will be watching closely to see if this bullish momentum can be sustained in coming sessions, particularly given the reduced trading volume observed on Thursday. The significant gains achieved despite lower trading activity suggest strong conviction among participating investors.
