Nigeria’s equities market extended its bullish momentum, with the All-Share Index gaining 0.70% to reach 145,813.86 points and market capitalization increasing by N643 billion to N92.25 trillion.
The Wednesday trading session demonstrated renewed investor confidence, pushing year-to-date returns to 41.67% and highlighting sustained positive market sentiment across multiple sectors. Market breadth remained strong with 53 gainers against 26 losers.
SCOA Nigeria led advancing stocks with 10% gains, closing at N0.55 per share, while Hallmark Insurance, Learn Africa, AXA Mansard Insurance, and Mutual Benefits Assurance also recorded maximum daily gains of 10%.
Nigerian Exchange Group experienced the largest decline, falling 10% to N63.00 per share, followed by UAC of Nigeria which dropped 9.93% to N90.52. Union Homes REIT, LivingTrust Mortgage Bank, and Multiverse Mining also recorded significant losses.
Trading activity surged significantly with volume jumping 168% to 2.70 billion units, while total trade value increased 46.62% to N32.63 billion. Despite increased activity, the number of executed deals declined 8.69% to 35,137 transactions.
Conhall Pharmaceuticals dominated volume trading with 1.02 billion shares, followed by Linkage Assurance with 562.32 million units, Sterling Financial Holdings with 183.77 million units, AIICO Insurance with 90.68 million units, and Zenith Bank with 60.35 million units.
Sector performance showed mixed results with the NGX Insurance Index leading gains at 9.87%, while Industrial Goods and Oil & Gas indices rose 2.85% and 0.96% respectively. Banking and Consumer Goods indices recorded marginal declines of 0.36% and 0.41%.
Market analysts predict continued positive momentum as more companies prepare to release half-year earnings results. The sustained bullish trend suggests growing investor confidence in Nigeria’s economic recovery prospects.
Investment advisors note that the current market performance reflects improved macroeconomic indicators and enhanced corporate earnings expectations across key sectors.
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