The Nigerian Exchange (NGX) continued its bullish momentum on Wednesday, recording a gain of ₦861bn as renewed investor confidence lifted trading activity across key sectors.
Market capitalisation rose by 0.61 per cent, moving from ₦140.523tn to ₦141.384tn, while the All-Share Index advanced by 1,336.39 points to close at 219,586.20, up from 218,249.81.
Market analysts attributed the positive performance to sustained buying interest in fundamentally strong equities, as investors maintained appetite for value-driven stocks despite broader economic pressures.
Leading the gainers’ chart were Transcorp Hotels Plc, Vitafoam Nigeria Plc, UAC of Nigeria Plc, Chemical and Allied Products Plc, and Trans-Nationwide Express Plc, alongside several other advancing stocks. In total, 31 equities recorded gains, compared to 28 that declined, reflecting a broadly positive market breadth.
The year-to-date return for the market also strengthened, rising to 41.11 per cent as confidence in listed companies continued to support sustained inflows.
On the downside, Neimeth International Pharmaceuticals Plc led the laggards, shedding 10 per cent to close at ₦9 per share. Abbey Mortgage Bank Plc, LivingTrust Mortgage Bank Plc, ABC Transport Plc, and Haldane McCall Plc also recorded losses during the session.
Despite the overall market rally, trading activity slowed, with total volume declining by 18.85 per cent to 683.68 million shares valued at ₦36.17bn across 51,694 deals.
First HoldCo Plc dominated activity, accounting for the highest traded volume with 76.64 million shares worth ₦5.78bn, representing 11.21 per cent of total volume and nearly 16 per cent of total market value for the day.