Nigeria's Equities Market Up 0.02% for Third Session

Nigeria's equities market closed higher on Thursday, extending its bullish streak for a third straight session as the benchmark AllShare Index rose marginally by 0.02 percent to 200,957.89 points. The gain added approximately N21 billion to investor portfolios, lifting total market capitalization to N129 trillion and pushing the year-to-date return to 29.14 percent.

The modest advance came despite a negative market breadth, with 30 stocks recording gains against 36 decliners. Investors appeared selective in their buying, focusing on bargain opportunities in medium and large-cap names amid underlying selling pressure in other areas. Trading activity picked up notably, as volume surged 26 percent to 678 million shares and value climbed 30 percent to N33 billion across 42,222 deals, down slightly from the prior session in number of transactions but signaling larger trades and renewed participation.

Premier Paints and Zichis Agro Allied Industries led the advancers, each climbing 10 percent to close at N34.10 and N12.54 per share, respectively. Other strong performers included Legend Internet, up 9.92 percent to N7.98; John Holt, gaining 9.87 percent to N17.25; McNichols, rising...