The Nigerian equities market extended its rally on Thursday, adding N1.663 trillion in market value as investor sentiment remained upbeat. Total market capitalization climbed 1.23 percent to N136.435 trillion from N134.772 trillion, surpassing the N136 trillion threshold. The All-Share Index rose by 2,583.61 points, or 1.23 percent, to close at 211,901.02, building on gains from the previous day. Year-to-date returns improved to 36.17 percent. Bullish momentum was broad-based, with 45 stocks gaining against 20 decliners. Trans-Nationwide Express and Guinea Insurance led the gainers, both up 10 percent to close at N5.50 and N1.21 per share, respectively. Aradel advanced 9.99 percent to N1,547.50, Ecobank Transnational rose 9.97 percent to N61.20, and Daar Communications gained 9.93 percent to N1.66. On the downside, Ikeja Hotel fell 9.73 percent to N33.40, WAPIC dropped 8.77 percent to N2.60, and CAP declined 8.61 percent to N95. International Energy Insurance and McNichols lost 8.18 percent and 5.82 percent. Trading volume dipped 17.19 percent to 584.96 million shares valued at N34.76 billion across 45,559 deals. Zenith Bank dominated activity with 61.74 million shares traded, worth N7.60 billion.
The market's surge past N136 trillion in value reflects growing investor confidence, particularly notable given the recent volatility in Nigeria's financial landscape. With gains spanning sectors and 45 stocks rising in a single session, the rally suggests a shift in capital toward equities amid improving macroeconomic expectations. The N1.663 trillion gain in one day alone underscores the speed at which wealth is being created for shareholders, even as broader economic challenges persist. This sustained four-day rally, including a N2.28 trillion jump the prior day, signals that institutional and retail investors are increasingly willing to bet on local market resilience.
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