The Nigerian equities market maintained its upward trajectory for the fourth consecutive trading session, driven by strong performances from blue-chip and mid-cap stocks. Investors saw their wealth grow by ₦804 billion in just four days of trading.
At the close of trading on Thursday, the All-Share Index rose by 1,271.1 points, marking a 0.9% increase to close at 140,665.85 points, up from 139,394.75 at the beginning of the week. The market capitalisation followed suit, climbing from ₦88.199 trillion to ₦89.004 trillion.
Analysts at Imperial Asset Managers Limited commented on the trend, saying they expect the mixed market movement to continue, influenced by bargain-hunting ahead of half-year 2025 earnings announcements and interim dividends from Tier-1 banks.
Investor confidence remained robust, with 41 stocks recording gains while 12 stocks declined, indicating strong market breadth. Despite the bullish trend, total trading volume dropped significantly by 50.74%, with 378.18 million shares exchanged, valued at ₦12.41 billion in 22,935 deals.
This sustained market growth reflects investor optimism, as they position ahead of upcoming corporate earnings and dividend announcements. Analysts, however, caution that mixed sentiments may persist as traders weigh potential profit-taking against long-term fundamentals.
