Nigerian Equities Market Gains N962 Billion on Thursday

On Thursday, the Nigerian equities market sustained its growth trajectory, gaining N962 billion. The market capitalization increased from N155.585 trillion to N156.547 trillion, reflecting a 0.62 percent appreciation.

The NGX share index rose by 1498.75 basis points, closing at 243,958.73 points, up from 242,459.98 points the previous day. Market breadth was positive, with 27 stocks advancing against 24 declining, resulting in a year-to-date return of 56.77 percent per unit.

International Breweries led the gainers' table with a 10 percent increase, closing at N12.10 per unit. FirstHoldCo followed closely with a 9.96 percent gain, closing at N69.55 per share.

Other notable gainers included Abbey Building Society (9.88 percent), TransExpress (9.76 percent), and Honey Flour (9.68 percent). Conversely, Geregu Power led the losers, dropping 10 percent to close at N2.70 per unit, followed by McNichols (9.76 percent) and UPDC (9.20 percent).