The Nigerian stock market extended its bullish run on Thursday, with investors gaining N191 billion as renewed buying interest in medium and large-cap stocks lifted key market indicators.
Market capitalisation rose from N158.086 trillion to N158.278 trillion, representing a 0.12 per cent increase.
Similarly, the All-Share Index advanced by 297.10 points, or 0.12 per cent, to close at 245,209.34 from 244,912.24.
The uptrend was due to renewed buying interest in key stocks.
Gainers included Eterna, AVA Capital, Legend Internet, FCMB, Honeywell Flour and 19 other advancing equities.
The year-to-date return climbed to 57.58 per cent, as the market breadth closed negative with 35 losers and 24 gainers.
On the losers’ chart, Fortis Global Insurance led by 10 per cent, finishing at N2.52; Ecobank Transnational Incorporated followed by 9.99 per cent, closing at N72.10 while Chellarem dropped by 9.85 per cent, settling at N11.90 per share
Similarly, Thomas Wyatt Nigeria shed by 9.83 per cent, ending the session at N3.21 and UPDC dipped by 8.45 per cent, finishing at N3.25 per share.
Conversely, Eterna led the gainers’ chart by 10 per cent, settling at N36.30; AVA Capital trailed by 9.63 per cent, finishing at N11.95; and Legend Internet gained by 9.52 per cent, closing at N4.60 per share.
Also, FCMB grew by 8.55 per cent, settling at N12.70 while Honeywell Flour increased by 7.98 per cent, closing at N17.60 per share.
Market activity weakened during the session as total trading volume declined by 35.47 per cent to 531.77 million shares worth N20.46 billion in 44,826 deals.
FCMB emerged as the most traded stock by volume with 131.74 million shares, representing 24.77 per cent of the total volume.
FIRSTHOLDCO led by value with transactions worth N5.95 billion, accounting for 29.09 per cent of the day’s total value traded.
