The Nigerian Exchange Limited (NGX) extended its bullish streak on Thursday as investor appetite for equities remained strong with buy-side activity pushing the market higher.
At the close of trading, the All-Share Index rose by 0.73 percent to settle at 106,074.26 points while the market capitalisation gained N508 billion to close at N66.667 trillion.
A total of 328,257,590 shares valued at N10.37 billion were exchanged in 12,142 deals.
Access Holdings, Fidelity Bank, GTCO, Chams and Zenith Bank were among the most actively traded stocks. However, it was the impressive performance of key consumer goods and industrial stocks that drove the rally.
Nestle Nigeria Plc led the gainers’ chart after appreciating by N100 or 10 percent to close at N1,100 per share.
Cadbury advanced by N2.20 or 10 percent to settle at N24.20 while Ikeja Hotel added N1 to close at N11, representing a 10 percent gain.
Similarly, Eterna gained N3.30 to close at N36.30 and Lafarge Africa rose by N7.20 to finish the day at N79.20, both recording 10 percent increases.
In a notable development, Legend Internet Plc successfully listed 2 billion ordinary shares by introduction on the Main Board of the Exchange.
The last-mile fiber service provider specialising in fiber-to-the-home (FTTH) solutions saw 6.5 million of its shares traded across 24 deals at N6.20 per share, totaling N40.3 million in value.
The strong performance reflects ongoing investor interest in growth-driven and innovation-focused companies. Analysts attribute the rally to improved market sentiment and positioning ahead of the Q2 earnings season.
As trading momentum builds, market watchers will continue to monitor sectoral movements and capital flows to assess the sustainability of the current upswing.
