The Nigerian Exchange (NGX) sustained its positive momentum on Thursday, as the benchmark All-Share Index (ASI) advanced 0.12 percent to close at 143,239.23 basis points.

Market capitalisation increased by N111.08 billion to N91.11 trillion, supported mainly by renewed buying interest in insurance stocks.

Consequently, Month-to-Date and Year-to-Date returns stood at -7.1 percent and +39.2 percent, respectively.

Market sentiment was broadly positive, with 33 gainers against 20 losers. The top performers were Ikeja Hotel Plc, Linkage Assurance Plc, Learn Africa Plc, NCR Nigeria Plc, and Union Dicon Salt Plc. On the losers’ end, the steepest declines came from Champion Breweries Plc, Sterling Financial Holdings Company Plc, UPDC Plc, C&I Leasing Plc, and Guinea Insurance Plc.

Gains in several large-cap counters also helped strengthen the market. MTN Nigeria Communications Plc rose 1.1 percent, Honeywell Flour Mills Plc advanced 6.4 percent, Access Holdings Plc gained 1.0 percent and Nigerian Breweries Plc appreciated 0.9 percent.

Sectoral performance was mixed. The Insurance Index led with a 1.27 percent gain, while the Consumer Goods and Banking indices recorded modest improvements of 0.08 percent and 0.07 percent.

The Industrial Goods, Oil & Gas, and segments of the Consumer Goods sector posted slight declines ranging between 0.02 percent and 0.04 percent. In a parallel classification, both the Oil & Gas and Industrial Goods indices closed flat.

However, market activity weakened sharply. Total traded volume fell 56.04 percent to 324.55 million units, while total value dropped 63.27 percent to N13.05 billion. The number of deals also declined 7.99 percent to 18,328, reflecting reduced institutional participation and limited appetite for large block trades.

Fidelity Bank Plc led the volume chart with 32.20 million units, while Guaranty Trust Holding Company Plc was the most traded by value at N2.27 billion.

Despite the slowdown in liquidity, sustained demand for insurance stocks and gains in key blue-chip names helped the market extend its positive trajectory heading toward the end of the week.

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