Strong performances in MTN Nigeria and 30 other stocks propelled the Nigerian equities market to a higher close on Thursday, with the All Share Index (ASI) rising 0.74% to 147,950.59 points from 146,862.00 points at the previous close.
The Market Capitalisation also increased by 0.74%, gaining N694 billion to close at N94.319 trillion from N93.625 trillion.
Trading activities saw an aggregate of 530 million shares exchanged across 18,159 deals, valued at N12.3 billion. The market breadth ended positive, with 31 stocks appreciating against 24 decliners.
Top gainers
JAPAULGOLD led the gainers with a 9.88% increase, closing at N2.78 from N2.53. Other notable gainers included Berger Paints (+9.88%), Morison (+9.77%), and PZ (+9.36%).
Top losers
On the downside, JOHNHOLT topped the losers’ chart, shedding 9.26% to settle at N4.90 from N5.40. Champion Breweries (-7.86%), Eterna Oil (-5.48%) and VFD Group (-5.07%) also saw declines in their share prices.
Volume drivers
ACCESSCORP was the most actively traded stock, with 156 million units exchanged in 1,084 deals valued at around N3 billion. FCMB followed with 75 million units traded in 357 deals (N820 million), while Fidelity Bank recorded 43 million units in 320 deals, valued at N813 million.
The market’s positive close was largely driven by investor optimism in blue-chip stocks, signaling cautious confidence in the equities market.
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