Nigerian Equity Market Gains N2.093 Trillion on Thursday

On Thursday, the Nigerian equity market experienced significant gains, with an increase of N2.093 trillion in market capitalization, bringing the total to N143.477 trillion, up from N141.384 trillion. This represents a 1.48% appreciation.

The NGX share index rose by 3251.48 basis points, closing at 222,837.68 points, compared to the previous day's 219,586.20 points. Despite a negative market breadth with 34 decliners against 31 gainers, strong liquidity and improved investor sentiment continued to drive interest in fundamentally sound stocks.

Year-to-date, the market has returned 43.20%. Notable gainers included Unilever Nigeria PLC and UACN, which both saw a 10% increase, closing at N121.00 and N133.10 per unit, respectively.

Other significant gainers were Tantal and Dangote Sugar, which rose by 9.80% and 9.78%, closing at N3.81 and N73.50 per unit. Conversely, McNichols led the losers with a 9.93% drop, closing at N6.44 per unit.