Trading on the Nigerian Exchange Limited (NGX) closed bullish on Thursday, with the market capitalisation gaining N833 billion, primarily driven by a surge in cement stocks. This marked another strong performance for the local bourse, with key indices closing higher amid renewed investor interest.
The All-Share Index (ASI) climbed by 1.02%, gaining 1,316.76 points to settle at 130,283.84. The market capitalisation rose from N81.57 trillion to N82.4 trillion, as sentiment remained largely positive. This lifted the year-to-date return to 26.58%.
A total of 129 stocks were active during the session, with 30 recording gains and 46 closing lower.
Cement majors led the upward momentum, with BUA Cement rallying 10% to close at N112.20 per share. Dangote Cement followed closely, appreciating by 9.99% to N473.30. Other top gainers included Chams Holding Company, which gained 9.96% to N3.09; FBN Holdings Plc (First HoldCo), which advanced 9.94% to N35.40; and ABC Transport, which added 9.85% to finish at N5.69.
On the flip side, Berger Paints Nigeria Plc topped the losers’ chart, shedding 10% to close at N33.75. May & Baker Nigeria Plc, MeCure Industries Plc, John Holt Plc, Hallmark Insurance Plc, and RT Briscoe Nigeria Plc also declined by 10% each.
The rally significantly boosted the Industrial Index, which surged 9.08% its strongest one-day performance in recent weeks. The Premium Index was up 2.74%, while the Top 30 Index recorded a 1.08% gain.
Despite a 4% drop in trading volume, investor activity remained vibrant. A total of 1.19 billion shares were exchanged in 37,418 deals, valued at N42.76 billion. Turnover rose by 7%, and the number of deals increased by 2% from the previous session.
Access Holdings Plc led the volume chart, with 168.10 million shares traded across 2,889 deals, amounting to N4.62 billion in value. FBN Holdings Plc followed with 86.42 million shares worth N3.04 billion, while Zenith Bank Plc recorded 83.36 million shares valued at N6.29 billion in 2,118 deals.
Other notable movers included Nigerian Breweries Plc, which traded 68.57 million shares valued at N5.08 billion, and AIICO Insurance Plc, with 65.25 million shares worth N139.27 million.
In terms of transaction value, Zenith Bank Plc topped the chart with N6.29 billion, followed by Nigerian Breweries Plc (N5.08bn), Access Holdings Plc (N4.62bn), FBN Holdings Plc (N3.04bn), and United Bank for Africa Plc, which recorded N2.94 billion across 62.48 million shares in 2,410 deals.
This comes a day after the NGX added N1.44 trillion in market capitalisation, driven by buying interest in blue-chip stocks, which pushed the ASI up by 2,277.54 points or 1.8% to 128,967.08.
