Investors on the Nigerian Stock Exchange continued to enjoy returns as the market extended its bullish momentum on Thursday.

The market capitalisation rose by N1.27tn, closing at N109.13tn, from N107.86tn recorded on Wednesday.

The All-Share Index also gained 1,975.18 points, or 1.18 per cent, to close at 170,005.36 points, continuing a positive trend that has seen the market post a year-to-date gain of 9.25 per cent. In weekly terms, the index rose 2.71 per cent, while over the past four weeks, it recorded a 5.72 per cent increase.

A total of 712,937,120 shares were exchanged in 46,078 deals, representing a turnover of N22.23bn. This reflected a three per cent increase in volume, an eight per cent rise in turnover, and a ten per cent increase in deals compared with the previous trading session.

Market activity was broad-based, with 129 equities participating in trading. Fifty-five stocks recorded gains while 19 equities closed lower. Seplat Petroleum Development Company led the gainers, appreciating by 10 per cent to N7,370 per share. Other notable gainers included Coronation Infrastructure Fund, Guinea Insurance, and RT Briscoe, which all recorded increases of 10 per cent or more.

On the losing side, Deap Capital Management & Trust recorded the steepest decline, shedding 9.62 per cent to close at N6.20 per share, followed by Universal Insurance Company, Haldane McCall, and Red Star Express, which all posted declines between 9.43 per cent and 9.04 per cent.

In terms of trading volumes, Access Holdings led with 107 million shares exchanged, followed by Chams and Champion Breweries with 44.5 million shares each, while Universal Insurance Company recorded 34.8 million shares traded.

Sectoral performance contributed to the positive sentiment across the market. The Oil & Gas Index surged 4.68 per cent, the Premium Index gained 2.80 per cent, and the Top 30 Index increased 1.16 per cent. Other indices, such as the Pension, Banking, and Industrial indices, also recorded healthy gains of 1.56 per cent, 0.64 per cent, and 0.79 per cent, respectively.