By Boluwatife Oshadiya
Key Points
- Investors traded 1.68 billion shares worth N109.44 billion on the Nigerian Exchange.
- Market capitalisation increased by N65 billion as bullish sentiment persisted.
- FIRSTHOLDCO emerged as the most traded stock by both volume and value.
- Berger Paints, Fidson Healthcare and CWG led the gainers’ chart.
Main Story
Investors on the Nigerian Exchange (NGX) traded equities worth N109.438 billion on Wednesday as market sentiment remained positive despite a decline in trading volume.
Trading data showed that a total of 1.683 billion shares were exchanged in 76,557 deals, compared with 2.027 billion shares valued at N87.709 billion traded across 80,888 transactions in the previous session.
Although the market recorded lower transaction volume and deal count, the value of traded equities increased significantly, reflecting sustained investor appetite for large-cap and fundamentally strong stocks.
The local bourse closed higher as investors gained approximately N65 billion following renewed buying interest in several industrial, healthcare and technology stocks. Market capitalisation rose by 0.04 per cent from N161.774 trillion to N161.839 trillion.
Similarly, the All-Share Index (ASI) advanced by 96.52 basis points, or 0.04 per cent, to close at 252,508.19 points from 252,411.67 points recorded previously.
The market’s year-to-date return strengthened further to 62.27 per cent, underscoring the strong rally witnessed on the exchange in recent months. Market breadth closed positive with 38 gainers against 30 losers.
Berger Paints Nigeria Plc, Fidson Healthcare Plc, Computer Warehouse Group Plc, Livestock Feeds Plc and DAAR Communications Plc topped the gainers’ table after recording the maximum daily gain of 10 per cent each.
Berger Paints closed at N140.10 per share, Fidson Healthcare settled at N113.30, Computer Warehouse Group ended at N23.10, Livestock Feeds closed at N10.45, while DAAR Communications finished at N1.87 per share. On the losers’ chart, NCR Nigeria Plc led with a 10 per cent decline to close at N179.10 per share.
Zichis Agro Allied Industries Plc followed with a 9.99 per cent loss to close at N36.32, while FBN Holdings Plc shed 9.87 per cent to close at N71.20 per share.
Neimeth International Pharmaceuticals Plc declined by 9.66 per cent to N10.75, while Eterna Plc fell by 9.59 per cent to close at N33 per share. FIRSTHOLDCO emerged as the most active stock at the exchange after recording 575.19 million shares valued at N44.42 billion. The stock accounted for 30.40 per cent of total traded volume and 37.71 per cent of the total market value recorded during the session.
Analysts attributed the continued positive market performance to strong corporate earnings expectations, sustained institutional participation and increased investor positioning in fundamentally sound equities.
What’s Being Said
Market analysts said investor confidence on the NGX remains resilient despite concerns around inflation, interest rates and exchange rate volatility. They noted that banking, healthcare and industrial stocks continue to attract strong institutional demand as investors seek value opportunities in the local equities market.
Some analysts also projected that the market could sustain its bullish momentum if listed companies continue to post strong earnings performance in the coming quarters.
What’s Next
Investors are expected to monitor upcoming corporate earnings releases, macroeconomic indicators and monetary policy developments for fresh market direction.
Trading activity is also likely to remain influenced by profit-taking in highly appreciated stocks and renewed positioning in fundamentally strong counters.
Bottom Line
The Nigerian stock market maintained its positive momentum as investors traded equities worth more than N109 billion, reflecting sustained confidence in select listed companies despite broader economic uncertainties.
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