Investors recorded a windfall of about N3.26 trillion on Thursday as trading on the Nigerian Exchange Limited closed on a strong bullish note, driven by sustained demand for large-cap and consumer goods stocks.
Market capitalisation rose sharply from N152.728 trillion at the opening of trading to N155.994 trillion at the close, reflecting renewed investor confidence.
The benchmark All-Share Index also climbed significantly from 237,205.59 to 242,277.81 points.
The session was marked by a positive market breadth, with 46 stocks gaining against 40 decliners, underlining strong buying pressure across key sectors.
Top-performing stocks included Chemical and Allied Products Plc, FTN Cocoa Processors Plc, UAC of Nigeria Plc, Unilever Nigeria Plc and Seplat Energy Plc, all of which gained the maximum 10 per cent daily limit.
Seplat led the rally, closing at N11,495.00, while Unilever and UACN settled at N137.50 and N181.50 respectively.
On the losers’ chart, Academy Press Plc dropped by 9.95 per cent to close at N9.50, followed by Royal Exchange Plc and Legend Internet Plc, which declined by 9.93 per cent and 9.32 per cent respectively, as some investors engaged in profit-taking.
Meanwhile, heavyweight stocks such as Dangote Cement Plc, Julius Berger Nigeria Plc and Custodian Investment Plc closed flat, recording no price movement.
Market analysts said the sustained rally reflects strong investor sentiment, with many participants positioning ahead of expected corporate earnings releases and macroeconomic developments.
They added that the continued rise in valuations highlights the resilience of the Nigerian equities market, which remains attractive to investors despite pockets of profit-taking in some mid-cap stocks.