Nigerian stock market closed marginally higher on Thursday as gains in key sectors outweighed broad-based profit-taking, with the benchmark All-Share Index rising by 0.10 per cent to close at 145,476.15 basis points.

Total market capitalisation increased by N97 billion to N92.73 trillion on the Nigerian Exchange, even as overall market sentiment remained bearish.

This was reflected in a market breadth of 0.8 times, with 28 declining stocks outweighing 23 gaining stocks.

Leading the gainers’ chart were UAC of Nigeria Plc, Morison Industries Plc, Ecobank Transnational Incorporated, Wapic Insurance Plc, and AXA Mansard Insurance Plc, which posted notable price appreciations and helped to support the overall performance of the market.

On the losing side, Ellah Lakes Plc, Eunisell Interlinked Plc, Transcorp Hotels Plc, Omatek Ventures Plc, and Guinea Insurance Plc recorded the largest price declines, as investors locked in profits across several counters.

Sectoral performance was largely bullish during the session. The Insurance sector led the gainers with a strong 1.56 per cent increase, reflecting renewed demand for insurance stocks.

The Banking sector followed with an impressive 0.91 per cent return, supported by sustained interest in select banking equities. The Industrial Goods sector advanced by 0.48 per cent, while the Consumer Goods sector appreciated by 0.28 per cent.

The Oil and Gas index also closed in positive territory, gaining 0.08 per cent. The Commodities sector, however, ended the session unchanged.

Trading activity showed mixed signals. Share volume traded on the exchange declined by 14.15 per cent to 1.93 billion units, while the total value of transactions fell by 8.47 per cent to N19.19 billion, indicating a slowdown in large-value trades. In contrast, market participation improved, as the total number of deals rose by 8.63 per cent to 23,369 transactions.

Market analysts noted that the modest gain recorded by the All-Share Index, despite the negative breadth, suggests that market performance was driven largely by selective buying in high-impact stocks rather than broad-based accumulation.

They added that investors are currently rotating across sectors, with banking and insurance stocks attracting fresh interest, while profit-taking persists in several previously advancing stocks.

With market capitalisation now standing above N92 trillion, analysts expect cautious optimism to dominate near-term trading as investors continue to assess corporate earnings, sector-specific developments and prevailing macroeconomic conditions.

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