The Nigerian Exchange (NGX) witnessed a resurgence on Wednesday as market capitalisation climbed by N310 billion, closing at N89.87 trillion following renewed bargain hunting in key stocks.
The NGX All-Share Index gained 490.04 points or 0.35 percent to end the session at 142,034.87, as investors shifted focus to mid and large-cap equities such as Aradel, INTBREW, and Dangote Cement.
According to market data, total trade volume rose sharply by 142.09 percent, while value jumped by 90.46 percent. A total of 1.004 billion units worth N24.65 billion were traded in 23,281 transactions. Abbey Mortgage Bank led activity, contributing 40 percent of the total volume, followed by Fidelity Bank, UBA, FirstHoldCo, and Access Corporation.
In terms of value, Aradel emerged as the most traded equity, accounting for 27.94 percent of market turnover. On the gainers’ table, Chellaram topped with a 9.77 percent increase, followed by Austin Laz (9.67%), The Initiates (8.08%), Sovereign Trust Insurance (7.37%), and INTBREW (6.96%).
On the losing side, Guinea Insurance declined by 9.70 percent, Legend Internet shed 7.27 percent, while Chams, Wema Bank, and Lafarge WAPCO also recorded losses.
Sectoral performance was mixed, with Oil & Gas, Consumer Goods, and Industrial Goods indices closing higher, while Banking and Insurance sectors came under pressure.
Analysts noted that investors reacted positively to macroeconomic data while repositioning portfolios in anticipation of stronger earnings from select companies.
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