For the fourth straight trading session, the Nigerian Exchange (NGX) Limited ended on a positive note with a further 1.23 per cent growth on Thursday.
This was influenced by demand for large-cap equities like MTN Nigeria, Aradel, First Holdco and others.
According to data from Customs Street, the energy index grew by 4.76 per cent, the banking counter appreciated by 2.49 per cent, and consumer goods sector expanded by 0.34 per cent.
But the insurance and the industrial goods indices came under selling pressure, losing 0.74 per cent and 0.03 per cent, respectively, which did not put the bourse at risk.
Consequently, the All-Share Index (ASI) closed higher by 2,583.60 points to 211,901.01 points from 209,317.41 points, and the market capitalisation grew by N1.663 trillion to N136.436 trillion from N134.773 trillion.
Guinea Insurance and Trans-Nationwide Express were the best-performing stocks for the session after gaining 10.00 per cent each to sell for N1.21 and N5.50 apiece, as Aradel chalked up 9.99 per cent to trade at N1,547.50, Ecobank appreciated by 9.97 per cent to N61.20, and DAAR Communications improved by 9.93 per cent to N1.66.
The worst-performing stock was Ikeja Hotel, which depleted by 9.73 per cent to N33.40. Coronation Insurance lost 8.77 per cent to quote at N2.60, CAP went down by 8.61 per cent to N95.00, International Energy Insurance crashed by 8.18 per cent to N3.03, and McNichols slumped by 5.82 per cent to N6.31.
Unlike the preceding session, investor sentiment was strong yesterday, with 43 price gainers and 21 price losers, showing a positive market breadth index.
A total of 585.0 million equities valued at N34.8 billion exchanged hands in 45,559 deals during the trading day versus the 706.4 million equities worth N41.9 billion traded in 46,231 deals on Wednesday, indicating a decline in the trading volume, value, and number of deals by 17.19 per cent, 16.95 per cent, and 1.45 per cent, respectively.
Zenith Bank remained the busiest stock for the day with 61.7 million units sold for N7.6 billion, as UBA traded 45.9 million units worth N2.1 billion, Access Holdings exchanged 42.8 million units for N1.2 billion, Secure Electronic Technology transacted 38.5 million units valued at N37.5 million, and GTCO recorded a turnover of 25.3 million units worth N3.2 billion.