Dangote Cement, the market\u2019s largest listed company, was a major driver of Thursday\u2019s rally. Its share price rose 5.82 percent to N1,420, adding N78.10 per share and lifting its market capitalisation to N23.96 trillion.<\/p>\n
The advance pushed the NGX Industrial Index up 3.41 percent to 12,199.47 points, making it the strongest-performing sectoral index for the session.\n<\/p>\n
Selected mid-cap stocks also recorded substantial gains. eTranzact International rose 10 percent to N17.60, while Sovereign Trust Insurance gained 9.60 percent to N2.17. FTG Insurance and McNichols gained 9.38 percent and 9.18 percent, respectively.\n<\/p>\n
However, the rally was not broad-based across all major stocks.\n<\/p>\n
First Holdco Plc fell 10 percent to N125.55, weighing on the banking sector despite the wider market\u2019s record performance. The decline helped pull the NGX Banking Index down 2.10 percent to 2,461.21 points.\n<\/p>\n
United Bank for Africa and Guaranty Trust Holding Company also recorded marginal declines of 0.23 percent and 0.08 percent, respectively.<\/p>\n
The divergence between industrial and banking stocks highlights how gains in large-cap companies can lift the overall market benchmark even when some heavyweight stocks are under pressure.\n<\/p>\n
Trading activity strengthened during the session, with 654.14 million shares exchanged, up 61.88 percent from 404.08 million shares on Wednesday. However, the number of deals fell 8.16 percent to 35,789 from 38,970.\n<\/p>\n
Read also:\u00a0Dangote fortune rises to $55.4bn as cement reclaims Nigeria\u2019s most valuable firm title<\/a><\/strong>\n<\/p>\n Elsewhere, the NGX Premium Index gained 1.01 percent to 33,374.25 points, while the NGX Growth Index rose 0.98 percent to 27,158.78 points. The NGX Insurance Index advanced 0.75 percent to 1,037.04 points.\n<\/p>\n The NGX Consumer Goods Index slipped 0.06 percent to 4,016.66 points, while the Oil and Gas Index edged up 0.05 percent to 6,089.25 points.<\/p>\n Thursday\u2019s record close extends the market\u2019s recent upward momentum, with industrial stocks providing a major source of support. However, the contrasting performance of banking and consumer goods shares shows that the advance remains uneven across sectors.\n<\/p>\n For investors, the next test will be whether buying interest broadens across more listed companies or remains concentrated in a handful of large-cap stocks.<\/p>\n Ayomide Odunlami is a Tax Reporter at BusinessDay, covering Nigeria\u2019s tax reforms, compliance trends, and government revenue strategies. She reports on how evolving tax policies affect businesses, investors, and the broader economy, providing clarity on complex regulatory issues through data-driven journalism.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n Source: <\/p>\n Nigeria\u2019s equity market rose to a fresh record of N164.97 trillion on Thursday, driven by a rally in Dangote Cement Plc and gains in selected stocks, even as losses in… <\/p>\n","protected":false},"author":1,"featured_media":3761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=3760"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/3760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/3761"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=3760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=3760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=3760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Related News<\/h4>\n<\/p><\/div>\n
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