Nigerian equities extended their upward streak on Thursday, with investors adding N3.36 trillion to portfolio value just before the May 1 Workers’ Day public holiday. Trading data showed total market capitalization rose from N152.728 trillion at the opening to a closing level of N155.994 trillion, signaling a fresh boost in risk appetite. The All-Share Index also moved higher, climbing from 237,205.59 to finish at 242,277.81.
Key takeaways
- Portfolio value increased by N3.36 trillion ahead of the May 1 Workers’ Day holiday.
- Total capitalization ended at N155.994 trillion after starting at N152.728 trillion.
- The All-Share Index closed at 242,277.81, up from 237,205.59 at the start of trading.
- Market breadth was positive, with 46 advancing stocks versus 40 declining shares.
- CAP, FTN Cocoa, UACN, Unilever, and Seplat each posted the day’s top gain of 10.00%.
- Alex was the biggest laggard, sliding 9.95% to close at N9.50.
Market performance and breadth
The session closed with buyers maintaining control across most of the listed names. Gains outnumbered losses, as 46 stocks advanced while 40 declined, leaving the market breadth tilted to the upside. That pattern supported the broader index gains, with the All-Share Index strengthening to 242,277.81 by the close.
Top gainers and biggest losers
Blue-chip and large-cap names led the rally. CAP, FTN Cocoa, UACN, Unilever, and Seplat all recorded the maximum daily increase of 10.00%, making them stand out among the day’s best performers.
On the other side, Alex topped the decline list after its share price fell by 9.95% to end at N9.50. Royal Exchange and Legend Identity also finished lower, with declines of 9.93% and 9.32%, respectively.
Continuing reversal from earlier weakness
The market’s strength reflected a broader shift in sentiment. The Nigerian Exchange has sustained a solid advance over the past two sessions, effectively reversing the bearish tone that had marked the start of the week.
