The Nigerian equities market sustained its bullish momentum on Thursday, as renewed buying interest in fundamentally sound stocks lifted key indicators.

The NGX All-Share Index advanced by 0.31 percent to close at 150,302.32 basis points, pushing the year-to-date return to about 46 percent.

Market capitalisation rose by 0.35 percent to N95.86 trillion, translating to a N331.63 billion increase in investors’ wealth and underscoring improving confidence despite a sharp drop in market activity.

Market breadth closed positive, with 35 stocks appreciating against 27 decliners, while 66 stocks finished flat, indicating selective accumulation rather than broad-based buying.

Among the notable gainers, Nestlé Nigeria Plc and Guinness Nigeria Plc topped the chart, reflecting sustained demand for consumer-facing names. Other advancing stocks included ALEX Plc, DAAR Communications Plc, and Mecure Industries Plc. On the losing side were Stanbic IBTC Holdings Plc, Lasaco Assurance Plc, Afriprudential Plc, Sterling Financial Holdings Company Plc, and a handful of other decliners.

Sector performance closed mostly in the green. The Consumer Goods index led the gainers, rising by 1.23 percent on the back of strong interest in Nestlé Nigeria Plc, Guinness Nigeria Plc, Champion Breweries Plc, UAC of Nigeria Plc, and International Breweries Plc. The Banking index followed with a 0.56 percent increase, driven by gains in First HoldCo Plc, Access Holdings Plc, United Bank for Africa Plc, Ecobank Transnational Incorporated, and FCMB Group Plc. The Oil and Gas index edged up by 0.05 percent, supported by buying interest in Oando Plc.

On the downside, the Insurance index declined by 0.23 percent, weighed down by losses in Lasaco Assurance Plc, Guinea Insurance Plc, Regal Insurance Plc, Custodian Investment Plc, Prestige Assurance Plc, Mutual Benefits Assurance Plc, NEM Insurance Plc, Linkage Assurance Plc, and Sovereign Trust Insurance Plc. The Industrial Goods index closed flat at the end of the session.

Trading activity was subdued, as total volume traded declined by 85.83 percent to 839.77 million units, while value traded fell by 84.83 percent to N32.81 billion. The slowdown reflected cautious positioning by investors after recent gains, even as overall sentiment remained positive.

Looking ahead, analysts expect trading to remain cautious in the near term, with investors likely to focus on stocks with strong fundamentals and attractive valuations. While activity levels may remain muted, the positive market breadth and sustained institutional interest suggest the broader bullish trend could be maintained, barring adverse macroeconomic shocks.

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