Nigerian Equities Close Higher as Bulls Dominate Trading Activities
The Nigerian equities market closed Thursday’s trading session on a positive note, extending its upward trajectory amid heightened investor activity and renewed appetite for select stocks across sectors. Trading on the Nigerian Exchange (NGX) was marked by brisk participation, reflecting a market buoyed by optimism and selective bargain hunting.
At the close of business, the benchmark All-Share Index (ASI) finished in the green, rising northward to 150,363.03 points from 149,842.82 points recorded in the previous session. This performance translated into an appreciation of approximately 0.26%, underscoring a modest but broad-based advance that reinforced the market’s near-term bullish sentiment.
The session opened with strong bullish momentum, as early buying interest set the tone for the day and stimulated increased trading activities. This positive start was sustained throughout the intraday session, supported by renewed demand in both blue-chip and mid-cap stocks.
Notable gainers that helped anchor the market’s rally included Nestlé, Guinness, Alex, Daarcomm, MeCure, NPFMCRFBK, FirstHoldCo, Ellahlakes, Omatek, and Champion, alongside 27 other advancing stocks. The breadth of these gains highlighted a fairly widespread participation by investors, rather than a rally driven by a narrow group of heavyweights.
The sustained buying interest in consumer goods, financial services, and select industrial segments suggested a combination of portfolio rebalancing and positioning ahead of anticipated year-end market dynamics.
Despite the overall positive close, the market was not without pockets of weakness, as profit-taking emerged in several stocks that had previously enjoyed price appreciation. On the decliners’ table, Stanbic, LASACO, Afriprud, AustinLaz, UPDC, STERLINGNG, REDSTAREX, Honeyflour, CWG, Guinea, and REGALINS, along with 18 other stocks, recorded losses during the session.
The downward movement in these counters reflected cautious sentiment among some investors, who opted to lock in gains amid lingering concerns over valuation and short-term price sustainability.
Overall, Thursday’s performance painted the picture of a market still tilted toward the bulls, albeit with increasing signs of selective trading and profit-taking. The positive close suggests that investors remain encouraged by underlying market fundamentals and expectations of improved corporate earnings, even as they exercise discretion in stock selection.
Going forward, market direction is likely to remain sensitive to portfolio adjustments, macroeconomic signals, and liquidity flows as the year draws to a close. Nonetheless, the sustained resilience of the All-Share Index indicates that the Nigerian equities market continues to offer pockets of opportunity for discerning investors. #Nigerian Equities Close Higher as Bulls Dominate Trading Activities#
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