The Nigerian Exchange (NGX) closed trading on Thursday with a positive performance, reversing losses from the previous session and adding significant value to investor portfolios. The market's upward movement was driven by strategic positioning in select stocks, with notable activity across various sectors.
Market Performance Indicators
The All-Share Index (ASI) rose by 0.18% intraday to reach 196,807.15 points, up from the previous day's close of 196,463.22 points. This positive movement translated to a substantial increase in market capitalization, which gained N221 billion to settle at N126.32 trillion. The year-to-date (YTD) return for the ASI improved to 26.47%, reflecting sustained investor confidence in the Nigerian equities market.
Sectoral Performance Analysis
The Oil & Gas sector demonstrated particular strength during Thursday's trading session, with the NGX Oil & Gas Index showing notable recovery. Eterna Oil & Gas Plc emerged as the leading gainer, driving momentum in this sector. Other sectors posted mixed performances, creating a diversified trading environment with opportunities across different market segments.
Trading Volume and Value
Market activity remained robust with a total of 634,010,000 shares traded across 66,286 deals. The total value of these transactions reached N29.11 billion, indicating substantial liquidity and investor participation in the market.
Top Performers and Decliners
Leading Gainers
- Eterna Oil & Gas Plc: Gained N3.50, rising from N35.00 to N38.50 (+10.00%)
- NPF Microfinance Bank Plc: Increased by N0.65, moving from N6.50 to N7.15 (+10.00%)
- Premier Paints Plc: Added N1.20, climbing from N12.10 to N13.30 (+9.92%)
- Custodian Investment Plc: Rose by N6.80, advancing from N70.00 to N76.80 (+9.71%)
- FTG Insurance Plc: Gained N0.12, increasing from N1.24 to N1.36 (+9.68%)
Major Decliners
- Lotus Halogen Plc: Lost N10.59, declining from N105.90 to N95.31 (-10.00%)
- Tripple-G Plc: Decreased by N0.47, falling from N4.73 to N4.26 (-9.94%)
- Multiverse Mining and Exploration Plc: Dropped N2.25, moving from N22.70 to N20.45 (-9.91%)
- Jaiz Bank Plc: Declined by N0.80, reducing from N10.80 to N10.00 (-7.41%)
- Honeywell Flour Mills Plc: Lost N1.60, falling from N22.50 to N20.90 (-7.11%)
Volume Leaders in Trading
Several stocks dominated trading volume on Thursday, with Jaiz Bank Plc leading the pack with 137,302,664 shares traded at a value of N1.41 billion. Guaranty Trust Holding Company Plc followed with 45,474,345 shares worth N5.41 billion, making it the value leader for the session. Other notable volume performers included Access Bank Plc (29,744,395 shares, N774.76 million), Sovereign Trust Insurance Plc (27,141,225 shares, N70.61 million), and Zenith Bank Plc (24,340,536 shares, N2.24 billion).
Broader Market Context
The positive market performance comes amid broader developments in Nigeria's financial sector. Several leading Nigerian banks, including FirstBank, United Bank for Africa (UBA), and Access Bank, have confirmed successful compliance with the Central Bank of Nigeria's (CBN) recapitalization requirements ahead of the March 31, 2026 deadline.
The CBN's recapitalization policy aims to strengthen the stability of Nigeria's financial system and enhance banks' capacity to fund major economic initiatives. First Bank of Nigeria Limited announced through the NGX that it has successfully met the minimum regulatory capital requirement of N500 billion through a combination of Rights Issue, Private Placement, and proceeds from divestment activities.
This banking sector development sends strong confidence signals to investors, customers, and the wider market, potentially contributing to the positive sentiment observed in Thursday's trading session. The successful recapitalization efforts demonstrate the resilience of Nigeria's financial institutions and their commitment to supporting economic growth through enhanced capital bases.
