Nigerian Exchange Market extends winning streak as 55 firms lift indices

|By Adejumo Adekunle-

-Academy, Unilever, Berger Paints lead gainers’ table with double-digit growth

The Nigerian Exchange (NGX) sustained its bullish momentum on Thursday, as strong buying interest in 55 firms—including Academy, Berger Paints, Deap Capital, Guinea Insurance, and Unilever—triggered a 0.53 percent jump in market performance.

The All-Share Index (ASI) surged by 637.27 points to close at 120,977.20, while the market capitalisation climbed to ₦76.583 trillion, up from ₦76.180 trillion recorded on Wednesday. The session marked the second consecutive day of gains on the local bourse.

Market data showed that the breadth of the trading session remained positive, with 55 stocks advancing against 15 decliners.

Leading the charge, Academy Press Plc rose by 10 percent to close at ₦5.61, closely followed by Berger Paints, which also gained 10 percent to hit ₦33 per share. Deap Capital and Guinea Insurance recorded similar growth rates, closing at ₦1.10 and 99 kobo respectively. Unilever advanced by 9.96 percent to settle at ₦56.85 per share.

Meanwhile, on the losers’ table, Neimeth International Pharmaceuticals dropped 8.49 percent to ₦7.22, Legend Internet fell 7.98 percent to ₦7.73, and Computer Warehouse Group shed 4.50 percent to ₦13.80. Sovereign Trust Insurance and VFD Group also recorded declines, closing at ₦1.32 and ₦13.50 respectively.

In terms of volume, a total of 933.40 million shares valued at ₦29.31 billion were exchanged in 24,207 deals. This represented a dip in volume but a spike in value when compared to the previous session’s 1.05 billion shares worth ₦12.17 billion in 21,964 deals.

Universal Insurance led the activity chart with 67.33 million shares traded, amounting to ₦40.67 million in value. Access Corporation’s Ja Paul Gold followed with 49.46 million shares, while Guaranty Trust Holding Company exchanged 40.64 million shares valued at ₦3.37 billion.

Market analysts attribute the positive sentiment to renewed investor confidence, sectoral rebounds, and a gradual return of institutional participation.