Investors in the Nigerian equity market experienced a boost of approximately ₦479 billion in portfolio value on Thursday, driven largely by growing optimism surrounding reforms in the insurance industry.
The trading session on the Nigerian Exchange (NGX) ended on a positive note, maintaining its recent bullish trend as key market indices rose by 0.52%.
This performance extended the market’s rally to 26 consecutive trading days, with the year-to-date (YTD) return climbing to 42.4%. Investor sentiment was lifted by persistent demand for both mid- and large-cap equities. Once again, the insurance sector led the charge, delivering a noteworthy gain of 8.76%.
The broad-based rally in insurance stocks came amid renewed confidence, largely attributed to recent regulatory changes and reforms designed to strengthen the sector. As a result, the All-Share Index climbed by 755.49 points, reaching an all-time high of 146,569.35, up from the previous session.
The market capitalisation rose in tandem, adding about ₦478.82 billion to close at ₦92.73 trillion. Despite this impressive gain, overall market activity slowed, with total volume and turnover dipping by 26.51% and 16.45%, respectively.
A note from Atlass Portfolio Limited revealed that around 1.98 billion shares, valued at ₦27.26 billion, were exchanged in 35,291 transactions. On the activity chart, LINKASSURE was the most actively traded by volume, contributing 18.81% of total trades, trailed by PRESTIGE (12.60%), VERITASKAP (9.19%), STERLINGNG (6.11%), and LASACO (2.97%).
By value, GTCO emerged as the leading stock, representing 10.78% of the session’s total trade value. On the gainers’ list, AIICO, CORNERST, MANSARD, and UPL each appreciated by 10.00%, according to trading data from the NGX.
Other notable gainers were GUINNESS (+9.98%), UPDC (+9.94%), PRESTIGE (+9.93%), NEM (+9.93%), and NGXGROUP (+9.92%), alongside 35 additional stocks that closed in the green.
However, the session also recorded 33 losers, with CHAMS topping the list after declining by -9.94%. Other laggards included CAVERTON (-9.65%), UACN (-9.44%), MAYBAKER (-8.97%), OANDO (-8.47%), and BUACEMENT (-4.37%).
Market breadth closed positive with 44 gainers and 33 losers, and sectoral indices also reflected the bullish mood. Three of the five major indices closed higher: the insurance index surged by 8.76%, the consumer goods sector rose by 4.08%, and the banking sector gained 0.20%. However, the industrial sector fell by 1.73%, while the oil & gas index dropped by 0.93%.
