Nigerian stock market gains 1.21% (N487.7 bilion) on Thursday

The Nigerian stock market gained 1.21% to settle on Thursday to close at 74,289.02 points. Consequently, the market capitalization increased by ₦487.74bn to close at ₦40.65tn, and the year-to-date (YTD) return increased to 44.95%.

The market entered positive territory due to sustained interest in tier-1 banks, specifically ZENITHBANK (+0.39%) and UBA (+2.97%), which offset losses in NESTLE (-1.74%), DANGSUGAR (-0.62%), and ETI (-0.24%). Telco heavyweight MTNN (+5.40%) also attracted strong interest.

Trade turnover settled higher compared to Wednesday with a 1.54% increase in transaction value. 7,990 transactions totaling 760.93 million shares, valued at ₦13.03 billion, were completed. With 224.08 million units traded, ABBEYBDS (+9.09%) led the volume, and NESTLE (-1.74%) led the value chart with deals totaling ₦2.65 billion.

On the leader’s table, TRANSCORP (+10.00%) surpassed 47 other participants, while JOHNHOLT (-10.00%) led 16 other participants on the laggard’s log.