The local stock market maintained its upward momentum as the All-Share Index rose by 0.51 percent to close at 105,283.67 basis points.Market capitalization mirrored this performance, increasing by 0.51 percent to ₦66.16 trillion, translating to a ₦338 billion boost in investor wealth.As a result, the month-to-date and year-to-date returns settled at -0.9 percent and +2.29 percent, respectively.
The market showed broad strength, with 34 stocks rising compared to 17 falling. Leading gainers were Associated Bus Company, VFD Group, LearnAfrica, Regal Insurance, and African Prudential. Conversely, Sunu Assurance, MRS, Abbey Mortgage Bank, John Holt, and Austin Lazarus saw declines at the forefront.
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At the Nigerian Exchange (NGX) on Wednesday, the session was marked by broad-based optimism, though sector performance was mixed.The Banking and Consumer Goods sectors led with gains of 2.93 percent and 1.25 percent, respectively, while the Insurance and Oil & Gas sectors declined by 0.81 percent and 0.09 percent. The Industrial Goods and Commodities sectors remained flat.
The trading activity remained vigorous. Even with a decline of 18.26 percent in the deal count, both the overall volume and value increased by 110.82 percent and 18.28 percent, respectively. In all, transactions involving 744.8 million units worth₦18.28 billion took place through 11,226 separate trades.
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The preceding day saw a decline in trading activity, with the overall trade volume dropping by 6.1% to reach 353.28 million units, amounting to ₦7.20 billion across 13,734 transactions. On Wednesday, however, Fidelity Bank took the lead both in terms of volume and value, with 388.77 million units transacted for a total of ₦7.75 billion through various deals.
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