The Nigerian stock market continued its upward trajectory on Wednesday, with a gain of N342 billion driven by increased investor appetite for medium and large-cap stocks.
The market capitalisation rose by 0.52%, closing at N66.159 trillion compared to N65.817 trillion recorded the previous day. Similarly, the All-Share Index (ASI) advanced by 544.06 points to settle at 105,283.67, up from 104,739.61.
The bullish performance was largely attributed to buying pressure in major stocks like Fidelity Bank, Guaranty Trust Holding Company (GTCO), and Universal Insurance Plc.
Market Breadth and Top Gainers
Market breadth ended positive, with 34 gainers against 17 losers.
On the gainers’ list, ABC Transport led with a 9.86% increase to close at N1.56 per share. VFD Group followed, rising 9.62% to N17.10, while Learn Africa gained 9.54% to settle at N3.56. Regalins also advanced by 9.43% to close at 58 kobo, and Africa Prudential climbed 8.63% to N15.10 per share.
Conversely, Tripple G topped the losers’ chart with a 10% decline, closing at N1.98 per share. MRS Oil shed 9.95% to close at N157.50, while Abbey Mortgage Bank lost 9.94% to finish at N8.79. John Holt fell by 9.68% to close at N7.00, and Austin Laz & Company dropped 9.57% to N1.89 per share.
Trading Volume and Value Surge
Trading activity was robust, with a total of 744.80 million shares valued at N18.28 billion exchanged across 11,226 deals. This represented a significant jump compared to the 353.28 million shares worth N7.19 billion traded in 13,734 transactions the previous day.
Fidelity Bank led the activity chart, accounting for 388.76 million shares valued at N7.75 billion. GTCO followed with 47 million shares worth N2.86 billion, while Universal Insurance recorded 41.92 million shares valued at N20.97 million.
Access Corporation and Tantalizer also featured among the top trades, transacting 30.55 million shares worth N705.58 million and 22.95 million shares valued at N52.84 million, respectively.
