February 05, (THEWILL) — The Nigerian equities market sustained its bullish momentum on Thursday, recording another strong session driven by broad-based buying interest across key stocks. Market capitalisation rose significantly from ₦107.861 trillion at the open to ₦109.129 trillion at the close, while the NGX All-Share Index (ASI) advanced from 168,030.18 to 170,005.36, reflecting renewed investor confidence and increased participation in the market.
Market breadth closed firmly positive, with 55 gainers overwhelming just 19 losers, underscoring the strength of the rally and the dominance of bullish sentiment throughout the trading session.
Leading the market’s upward charge were the following stocks:
GUINEAINS moved higher by 10.00 (opening at ₦1.30 and closing at ₦1.43).
SEPLAT advanced by 10.00 percent (from ₦6,700.00 to ₦7,370.00).
CNIF rose by 10.00 percent (stock price opened at ₦100.00 to ₦110.00).
RTBRISCOE moved higher by 9.95 percent (₦10.45 to ₦11.49).
NEIMETH gained 9.90 percent (₦10.10 to ₦11.10).
On the downside, profit-taking activities and mild sell pressure dragged some stocks lower, with the top laggards including:
DEAPCAP recorded a percentage loss of -9.62 percent (falling from ₦6.86 to ₦6.20).
UNIVINSURE fell by -9.43 percent (opened at ₦1.59 and closed at ₦1.44).
HMCALL declined by -9.09 percent (₦4.40 to ₦4.00).
REDSTAREX dropped by -9.04 percent (₦17.15 to ₦15.60).
UPDC slipped by -7.02 percent (₦5.70 to ₦5.30).
Meanwhile, several heavyweight stocks remained unchanged for the day, including Okomu Oil, Presco Plc, DN Tyre and Rubber, Nigerian Breweries, and Golden Guinea Brewery Plc, indicating cautious positioning among some investors.
Overall, Thursday’s performance reflects strong market momentum supported by widespread buying interest and improving sentiment. Analysts attribute the rally to renewed confidence in select equities, portfolio repositioning ahead of upcoming corporate updates, and growing appetite for fundamentally strong stocks. With gainers significantly outweighing losers, the market appears poised to sustain its upward trajectory in the near term, although intermittent profit-taking may still shape short-term movements.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
