The Nigerian Exchange Limited's market capitalisation jumped to ₦143.477 trillion on Thursday, adding ₦2.093 trillion from the opening level of ₦141.384 trillion as investors snapped up shares in consumer goods and industrial stocks.
Trading closed positive across the board, with buying interest concentrated in a handful of blue-chip stocks that drove the broader rally. UACN and Unilever led the charge, pulling other companies higher as sentiment shifted in favour of equities after recent weakness.
The surge reflected growing appetite among investors for quality assets in the consumer goods sector, which has become a safe bet for portfolio managers seeking stable returns amid broader economic uncertainty. Industrial stocks also benefited from the wave of buying, suggesting traders are positioning for better corporate earnings in coming quarters.
Thursday's gains came as a relief to market participants who have watched valuations fluctuate over recent weeks. The ₦2 trillion-plus jump in capitalisation sends a signal that major institutional investors remain confident in Nigeria's equity market despite inflation pressures and rising interest rates that have weighed on some sectors.
