The Nigerian equities market closed on a positive note as investor sentiment improved, with the market capitalisation increasing by ₦479 billion, or 0.52%, to settle at ₦92.730 trillion, up from ₦92.251 trillion recorded in the previous session.
In tandem, the All-Share Index (ASI) advanced by 756.85 points, also representing a 0.52% increase, closing at 146,570.71.
The bullish performance was largely driven by heightened buying activity in mid- and large-cap stocks, including AIICO Insurance, Cornerstone Insurance, AXA Mansard Insurance, University Press, and over 40 other gainers.
Market breadth remained positive with 44 stocks advancing against 34 decliners.
Leading the gainers’ chart, AIICO Insurance and Cornerstone Insurance each appreciated by 10%, closing at ₦3.19 and ₦5.83 per share respectively. AXA Mansard also posted a 10% gain, ending at ₦13.31, while University Press surged by 10% to close at ₦5.61. Guinness Nigeria saw a 9.98% rise to close at ₦141.60.
On the downside, CHAMS fell by 9.94%, closing at ₦2.90. Austin Laz declined by 9.83% to ₦2.11, and Caverton Offshore dropped 9.65% to settle at ₦6.37. UAC of Nigeria lost 9.44% to end at ₦81.50, while John Holt Plc decreased by 9.43%, finishing at ₦7.20 per share.
Trading activity remained robust, with a total of 1.98 billion shares valued at ₦27.26 billion exchanged in 35,291 deals, compared to the previous day’s 2.69 billion shares worth ₦32.6 billion across 35,137 deals.
Linkage Assurance led the volume chart with 372.40 million shares worth ₦703.1 million. It was followed by Prestige Assurance, which traded 249.33 million shares valued at ₦357.45 million, while Veritas Kapital Assurance recorded 181.86 million shares worth ₦362.99 million.
Other notable movers included Sterling Nigeria with 121.02 million shares valued at ₦968.29 million, and Lasaco Assurance, which exchanged 58.7 million shares worth ₦217.5 million.