On the first trading day of the year, the Nigerian equities market opened on a bright note as the benchmark index gained 25 basis points, or 0.25 percent, to close at 103,180.14 points.
The positive performance was primarily driven by gains in Tier-1 banking tickers such as Zenith Bank, United Bank for Africa, and First Bank of Nigeria Holdings.
Equity investors collectively earned N154.7 billion as the market capitalization increased to N62.92 trillion.
As a result of the bullish market on Thursday, the year-to-date (YTD) return stood at 0.25 percent. Market sentiment remained positive, with 58 stocks advancing compared to eight decliners. Among the top gainers were Cutix, International Energy Insurance, AXA Mansard Insurance, NCR, and Royal Exchange, each gaining 10.00 percent.
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In contrast, Ellah Lakes, NASCON, CWG, Fidelity Bank, and International Breweries led the decliners. Trading activity was robust, with trading volume and value surging by 89.55 percent and 33.09 percent, respectively, although the number of transactions declined by 85.95 percent.
Sectoral performance was largely positive, with significant gains recorded in the banking, insurance, and consumer goods sectors, while the oil & gas and industrial goods sectors experienced slight declines of 0.03 percent and 0.16 percent, respectively.
An analysis of market activities showed that trade turnover was lower compared to the previous session, with the number of transactions down by 85.95 percent. A total of 829.75 million shares valued at N5.67 billion were exchanged in 11,752 deals.
Royal Exchange was the most traded stock by volume, with 290.99 million units, while Zenith Bank was the most traded stock by value at N680.67 million.
