The Nigerian equities market extended its bullish run on Thursday as renewed buying interest lifted the NGX All-Share Index by 0.62 per cent to 246,315.38 points, while the listing of an additional 26.56 billion Abbey Bank Plc shares pushed market capitalisation up by N1.18 trillion.
The gain lifted the market’s year-to-date return to 58.29 per cent, with total market capitalisation rising by 0.74 per cent to ₦159.89 trillion.
The latest advance came amid stronger trading activity, as investors exchanged 1.11 billion shares valued at N46.02 billion in 54,102 deals.
Compared with the previous session, trading volume and value increased by 67.79 per cent and 22.89 per cent, respectively, although the number of transactions fell by 14.49 per cent.
The market’s positive breadth also reflected the renewed buying pressure, with 33 stocks recording gains against 23 decliners, translating to a breadth of 1.4x.
Betaglass, BUA Cement, Conoil, Hallmark, UPDC Real Estate Investment Trust and Royal Exchange led the gainers, while Transcorp Power, Legend Internet, Omatek, LivingTrust Mortgage Bank and International Breweries recorded the most notable losses.
The industrial sector provided the strongest support for the benchmark index, rising by 2.89 per cent, followed by insurance stocks, which gained 1.88 per cent.
Banking stocks also advanced by 1.18 per cent, reinforcing the positive market direction.
However, the gains were moderated by declines in consumer goods, which fell by 0.78 per cent; commodity stocks, down 0.71 per cent; and oil and gas, which slipped marginally by 0.01 per cent.
Market watchers said the sustained upward movement was being supported by improving investor sentiment, although profit-taking could continue to create intermittent pressure on equities that have recorded substantial gains.
The market has now extended its strong 2026 performance, with the year-to-date return approaching 60 per cent, underscoring the strength of the rally across the Nigerian equities market.
The latest session also showed a divergence between the amount of stock traded and the number of transactions, with volume and value rising sharply while the deal count declined.
Analysts expect positive sentiment to remain a key driver of the market in the near term, although the pace of gains could moderate as investors lock in profits from stocks that have appreciated significantly.
The additional Abbey Bank shares listed on the NGX also contributed materially to the rise in total market capitalisation, taking the market closer to the N160 trillion threshold.
With the benchmark index at 246,315.38 points and year-to-date gains of 58.29 per cent, attention will increasingly focus on whether fresh buying interest can absorb profit-taking as the market sustains its bullish trajectory.
