The Nigerian equities market rebounded strongly on Thursday as renewed bargain-hunting and growing investor confidence lifted the benchmark index, pushing market capitalisation higher and delivering substantial gains to investors.

The NGX All-Share Index (ASI) rose by 22 basis points to close at 165,527.31 points, reversing previous losses and settling the year-to-date return at 6.37 per cent. Market capitalization climbed by 0.22 per cent to N105.97 trillion, translating into a N232.35 billion gain for investors in a single trading session.

Analysts attributed the bullish close to renewed interest in undervalued blue-chip stocks, as investors repositioned across key sectors of the market.

Trading activity showed mixed signals. While transaction volume increased by 10.95 per cent to 691.42 million units, traded value declined by 7.07 per cent to N15.37 billion, reflecting selective participation by investors.

Market sentiment improved significantly, with 41 stocks recording gains against 27 decliners, while 63 equities closed flat, pushing market breadth to positive.

Banking stocks led the rally, with the sectoral index rising by 0.68 per cent on sustained demand for FCMB, First HoldCo, AccessCorp and Zenith Bank. The insurance sector followed with a 0.64 per cent gain, driven by strong performances in Veritas Kapital, NEM, Wapic and Cornerstone Insurance. Consumer goods stocks also advanced by 0.46 per cent, supported by gains in Tantalizers, International Breweries, McNichols and Unilever.

The oil and gas sector edged up by 0.10 per cent, buoyed by renewed investor interest in Oando, while the industrial goods index closed flat, reflecting cautious sentiment in the sector.

Among individual stocks, RT Briscoe, DEAP Capital, Zichls, NEM Insurance, First HoldCo, Oando, Unilever, NGX Group, AccessCorp and Zenith Bank featured prominently among the day’s gainers, helping to lift the overall market performance.

The rebound reflects growing confidence in fundamentally strong stocks and expectations of improved corporate earnings, suggesting that bullish momentum could persist in the near term if macroeconomic stability and investor confidence are sustained.

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