March 05, (THEWILL) — The Nigerian equities market closed on a mildly positive note on Thursday, as the benchmark indicators posted modest gains, although market breadth signalled underlying weakness.
Market capitalisation opened the session at ₦126.097 trillion and closed higher at ₦126.317 trillion, representing a ₦220 billion increase. Similarly, the All-Share Index (ASI) advanced from 196,463.22 to 196,807.15, reflecting continued buying interest in select counters.
Despite the upward movement in the key indices, market breadth remained negative, with 33 gainers against 39 losers, suggesting that the day’s gains were driven by selective accumulation rather than broad-based market strength.
TOP GAINERS INCLUDE:
ETERNA 10.00 percent (₦35.00 to ₦38.50).
NPFMCRFBK 10.00 percent (₦6.50 to ₦7.15).
PREMPAINTS 9.92 percent (₦12.10 to ₦13.30).
CUSTODIAN 9.71 percent (₦70.00 to ₦76.80).
FTGINSURE 9.68 percent (₦1.24 to ₦1.36).
On the other side,
TRIPPLEG -9.94 percent (₦4.73 to ₦4.26).
MULTIVERSE -9.91 percent (₦22.70 to ₦20.45).
JAIZBANK -7.41 percent (₦10.80 to ₦10.00).
HONYFLOUR -7.11 percent (₦22.50 to ₦20.90).
DANGSUGAR -7.10 percent (₦74.70 to ₦69.40).
Meanwhile, several notable counters, including Presco Plc, John Holt Plc, Julius Berger, DN Tyre and Rubber, BUA Foods, and Nigerian Breweries, ended the trading session unchanged.
Investor sentiment appeared mixed during the session. While gains in select insurance and industrial stocks supported the upward movement in the index, losses across several consumer goods and banking counters indicated ongoing portfolio rebalancing and cautious positioning by market participants.
Looking ahead, the market may continue to witness selective bargain hunting in fundamentally strong stocks. However, the persistent negative breadth suggests that investors remain cautious, and trading in the next session could remain mixed as participants balance profit-taking with opportunistic accumulation.
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.
