By Seun Ibiyemi
The Nigerian equities market sustained its bullish momentum on Thursday, as investors recorded a gain of N308 billion, driven by strong performances in Caverton Offshore Support Group, Eunisell Interlinked Plc, and Sunu Assurance Plc.
At the close of trading, the All-Share Index (ASI) climbed to 146,204.33 points, up from 145,719.09 points posted on Wednesday, while the market capitalisation appreciated to N92.7 trillion from N92.4 trillion the previous day.
The market breadth closed positive with 32 gainers, 21 losers, and 93 unchanged stocks across 24,691 deals, reflecting increased investor participation.
Caverton Offshore, Eunisell Interlinked, and Sunu Assurance topped the gainers’ chart with 10 per cent, 10 per cent, and 9.90 per cent appreciation, closing at N6.93, N44.00, and N5.77 per share, respectively.
Conversely, FTN Cocoa, Tantalizers Plc, and Fidelity Bank Plc led the losers’ table, declining by 6.67 per cent, 3.35 per cent, and 2.38 per cent to close at N5.60, N2.31, and N20.50 per share, respectively.
On the activity chart, Fidelity Bank led in volume with 42 million shares traded in 536 deals, followed by Dangote Cement with 20 million shares in 1,113 deals, and Sterling Bank with 19 million shares in 1,045 deals.
In terms of value, Dangote Cement dominated with transactions worth N11 billion, while Nestle Nigeria and MTN Nigeria recorded trades valued at N5 billion and N4.9 billion, respectively.
The session’s performance underscores investors’ sustained appetite for equities, buoyed by improving market sentiment and optimism about near-term corporate earnings.