Blue-chip buying lifts the market for a fourth day as Nestlé and Guinness surge, offsetting losses in Stanbic and other financial stocks.
Nigeria’s stock market extended its winning streak on Thursday, adding about ₦331 billion in value as strong buying interest in consumer and industrial stocks outweighed declines in banking and insurance names.
Market capitalization rose by 0.35 percent to ₦95.856 trillion, up from ₦95.525 trillion at the previous session’s close, according to data from the Nigerian Exchange. The benchmark All-Share Index climbed by 520.23 points, also a gain of 0.35 percent, to settle at 150,363.05, marking the fourth straight day of advances this week.
The rally was driven by renewed investor appetite for heavyweight stocks, particularly Nestlé Nigeria and Guinness Nigeria, alongside gains in smaller industrial and media companies. Analysts said the momentum reflects selective positioning by investors amid ongoing earnings expectations and corporate actions.
Nestlé Nigeria led the gainers’ table, rising by the maximum 10 percent to close at ₦1,958 per share. Guinness Nigeria followed closely, gaining 9.98 percent to end the session at ₦289.70. Aluminium Extrusion Industries advanced 9.76 percent to ₦11.25, while Daar Communications rose 9.20 percent to close at ₦0.95. Mecure Industries added 9.13 percent, finishing at ₦55 per share.
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The positive price action pushed the market’s year-to-date return higher to 46.09 percent, underscoring the Nigerian Exchange’s strong performance so far this year despite economic headwinds and currency volatility.
Market breadth closed positive, with 35 stocks advancing against 26 decliners, signaling broad-based participation in the rally.
However, gains were capped by sharp losses in some financial stocks. Stanbic IBTC Holdings led the losers, shedding 9.33 percent to close at ₦95.20. Lasaco Assurance fell 9.09 percent to ₦2.50, while Africa Prudential dropped 8.82 percent to ₦12.40. Austinlaz declined by 8.33 percent to ₦2.20, and Sterling Nigeria lost 6.12 percent to close at ₦6.90.
Trading activity slowed compared with the previous session, reflecting a more cautious tone beneath the headline gains. A total of 839.8 million shares valued at ₦32.8 billion were traded across 23,211 deals, down sharply from 5.9 billion shares worth ₦216.2 billion exchanged in 25,205 transactions earlier in the week.
First HoldCo recorded the highest trading volume and value, with 385.62 million shares changing hands for a total turnover of ₦15.54 billion.
Market analysts say investor sentiment remains largely optimistic but selective, with participants favoring fundamentally strong stocks while trimming exposure to weaker performers. They add that near-term direction will likely depend on earnings updates, policy signals, and broader macroeconomic developments.
