Nigeria's stock market kept its hot streak alive on Thursday, surging N138 billion in value to close at N102.82 trillion, with the All-Share Index climbing 0.13% to 160,806.56 amid broad buying across pharma and mining plays.
This marked the NGX's 19th straight bullish session, fueled by investor bets on undervalued gems despite mixed breadth and softer turnover.
Neimeth International Pharmaceuticals led the charge, jumping 10% to N7.70 per share, chased by May & Baker's 9.85% pop to N26.20, Etranzact's 9.64% gain at N13.65, Multiverse Mining's 9.51% rise to N21.30, and Mecure's 9.42% lift to N74.95. These 32 advancers outpaced 41 decliners like International Energy Insurance's 9.90% drop to N2.73 and ABC Transport's 9.88% slide to N4.47, signaling selective bargain hunting in a cautious tape.
Investors swapped 645 million shares worth N16.4 billion across 44,410 deals, down from Wednesday's 1.44 billion units at N20.7 billion, with Chams topping volume at 60.5 million shares and Zenith Bank leading value at N1.51 billion. Access Corp and Champion Breweries rounded out busy names, as analysts chalk up the pullback to profit-taking ahead of earnings season and macro jitters.
Kicking off 2026 with steady gains after nearing N100trn late last year, the NGX reflects renewed confidence in Tinubu's reforms despite inflation bites and global headwinds. Pundits see more upside if CBN holds rates steady, but warn of volatility from oil swings and budget fights.