The Nigerian equities market closed on a positive note on Thursday, with investors gaining N66 billion as the market capitalisation rose to N65.3 trillion.
The rally was driven by strong performances in key stocks, particularly Eterna Plc and Cadbury Nigeria Plc, which led the gainers’ chart with a 9.88% appreciation each.
Eterna closed at N33.35 per share, while Cadbury ended at N26.70 per share. Other top gainers included Fidson Healthcare Plc and UPDC Plc, both rising by 9.77% to close at N19.10 and N2.36 per share, respectively.
On the flip side, Tripple Gee & Co Plc topped the losers’ chart, shedding 9.72% to close at N2.23 per share, followed by Golden Guinea Breweries Plc and Veritas Kapital Assurance Plc.
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Trading activity saw 537.19 million shares valued at N23.03 billion exchanged in 15,450 deals, representing a 49% decline in volume and a 20% drop in turnover compared to the previous session. Access Holdings Plc led the volume chart with 61.6 million shares traded, followed by Sterling Bank Plc and Zenith Bank Plc.
Sectoral performance was mixed, with the Insurance Index gaining 0.63%, the Pension Index rising by 0.32%, and the Consumer Goods Index appreciating by 0.18%. The Oil & Gas Index and Main Board Index recorded marginal gains of 0.13% each.
Analysts attributed the bullish sentiment to sustained investor confidence amid the ongoing earnings season. The market breadth closed positive, with 32 gainers and 23 losers. Stocks like Fidson, UPDC, and Deap Capital also recorded significant gains, while decliners included Caverton, Lasaco, and Jaiz Bank.
