Banking, energy and consumer goods stocks lifted the Nigerian Exchange as selective buying offset widespread profit-taking across the market

The Nigerian equities market extended its positive run on Thursday as investors recorded a N192 billion gain, with buying interest in selected banking, energy and consumer goods stocks lifting the benchmark index despite continued profit-taking across a wider range of listed companies.

Also read: Nigerian Equities Rebound as Investors Gain N653bn on Renewed Buying Interest

The Nigerian Equities Gain N192bn performance came as the Nigerian Exchange Limited All-Share Index advanced by 297.10 points, or 0.12 per cent, to close at 245,209.34 points, compared with 244,912.24 points in the previous trading session.

Market capitalisation also climbed from N158.086 trillion at the opening of trading to N158.278 trillion at the close, adding N192 billion to investors’ portfolios.

Although the market finished in positive territory, overall sentiment remained cautious. Market breadth closed negative, with 24 gainers against 35 losers, suggesting investors continued to rotate into carefully selected stocks while taking profits in others.

The day’s rebound was driven largely by renewed demand for FCMB Group, Eterna, AVA Capital Group and Honeywell Flour Mills, reflecting sustained interest in mid-cap counters that have recently attracted institutional and retail investors.

Eterna emerged as the session’s strongest performer after rising 10 per cent to N36.30 per share from N33.00.

AVA Capital Group followed with a 9.63 per cent gain to close at N11.95, while Legend Internet appreciated 9.52 per cent to N4.60 per share.

FCMB Group advanced 8.55 per cent to N12.70 from N11.70, while Honeywell Flour Mills rebounded 7.98 per cent to settle at N17.60 after recording losses in the previous session.

On the losing side, FTN Cocoa Processors recorded the steepest decline, shedding 10 per cent to close at N2.52 per share from N2.80.

Ecobank Transnational Incorporated fell 9.99 per cent to N72.10 from N80.10, while Chellarams declined 9.85 per cent to N11.90.

Thomas Wyatt Nigeria lost 9.83 per cent to finish at N3.21, while UPDC Real Estate slipped 8.45 per cent to N3.25 per share.

Several heavyweight stocks, including MTN Nigeria Communications, Dangote Cement, Seplat Energy, Custodian Investment, Presco and Julius Berger, ended the session unchanged, underscoring investors’ preference for opportunities within mid-cap stocks rather than blue-chip counters.

Market analysts have noted that the Nigerian stock market has remained resilient in recent months despite intermittent bouts of profit-taking, supported by improving corporate earnings, attractive dividend yields and sustained interest in banking stocks ahead of regulatory and capital market developments.

Also read: Nigerian Exchange Records Weekly Decline as Equities Dip

Thursday’s trading reflected that pattern, with selective buying proving resilient enough to offset broader weakness and keep the benchmark index in positive territory, even as investors continued to rebalance their portfolios.