Nigerian equities market extended its recovery on Thursday, closing marginally higher as renewed buying interest in consumer stocks helped offset widespread losses across the broader market, adding N72.44 billion to investors’ wealth despite persistent bearish sentiment.

The Nigerian Exchange (NGX) All-Share Index (ASI) gained 0.05 per cent to close at 249,175.39 basis points from the previous session’s level of 249,062.37 points, pushing the year-to-date return higher to 60.13 per cent, while market capitalisation advanced to N159.73 trillion.

The positive close was largely driven by strong performances in consumer-facing counters, with gains in Unilever Nigeria Plc, which appreciated by 4.04 per cent, alongside UAC of Nigeria Plc, which rose 3.8 per cent, and International Breweries Plc, which advanced 3.66 per cent, helping the market reverse the previous session’s losses.

However, the rally masked underlying weakness in the market as decliners significantly outweighed gainers. Market breadth closed negative at between 0.40x and 0.45x, with 45 laggards against only 18 advancing stocks.

Top gainers were led by International Energy Insurance, which surged by 10 per cent, followed by Associated Bus Company Plc, which gained 9.9 per cent. On the losers’ chart, Berger Paints Nigeria Plc and Learn Africa Plc shed 10 per cent each, while DAAR Communications Plc, RT Briscoe Nigeria Plc, May & Baker Nigeria Plc, Oando Plc, and Custodian Investment Plc also recorded notable losses.

Sectoral performance remained mixed, reflecting selective investor appetite. The Consumer Goods Index emerged as the best performer, rising by 0.52 per cent, while the Banking Index posted a marginal gain of 0.03 per cent.

In contrast, the Insurance Index suffered the steepest decline at 3.55 per cent, followed by Oil and Gas (-0.10 per cent) and Industrial Goods (-0.01 per cent), while the Commodity Index closed flat.

Trading activity strengthened significantly during the session as investors exchanged 1.06 billion shares in 62,448 deals. Volume traded surged by as much as 76 per cent compared with the previous day, although turnover declined slightly by about five per cent to N30.97 billion.

Sterling Financial Holdings Company Plc emerged as the most actively traded stock by volume with 322.68 million shares exchanged, while Aradel Holdings Plc led the value chart with transactions worth N5.06 billion.

Analysts said the weak market breadth and continued profit-taking activities suggest investor sentiment remains cautious despite the positive close.

They projected a softer outing in Friday’s session, citing subdued participation and sustained profit-booking pressures that could tilt the market back into negative territory.

Copyright © 2026 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).