The Nigerian stock market extended its winning streak on Wednesday as investors pocketed over ₦459 billion in profit, fueled by strong performances in blue-chip stocks such as Fidelity Bank, MTN Nigeria, and Aradel Holdings.
The benchmark All-Share Index advanced by 0.50%, adding 723.83 basis points to close at 145,719.09, while year-to-date returns strengthened to 41.6%. The rally reflected sustained investor appetite for large and mid-cap equities amid easing macroeconomic pressures.
Despite some profit-taking in previously bullish stocks, market sentiment remained positive, with analysts attributing the rebound to moderating interest rates and improving confidence in Nigeria’s fiscal outlook.
Trading data from the Nigerian Exchange (NGX) showed total transaction volume rose 3.61%, while trade value declined 43.95%. In total, 525.73 million shares worth ₦13.61 billion were exchanged in 25,597 deals.
In terms of volume, CONHALLPLC led with 16.02% of total trades, followed by FIRSTHOLDCO (7.00%), JAIZBANK (5.51%), CHAMS (4.69%), and ELLAHLAKES (4.10%). On the value chart, GTCO ranked highest, accounting for 13.24% of total trade value.
FTNCOCOA topped the gainers’ list with an 8.89% jump, followed by LIVESTOCK (+7.43%), ETERNA (+6.96%), PRESTIGE (+4.94%), FIDELITYBK (+4.74%), and MTNN (+4.64%), among others.
Conversely, 33 equities recorded losses. IMG led the decliners with a 9.97% dip, followed by JAIZBANK (-7.53%), DANGSUGAR (-6.10%), ELLAHLAKES (-5.44%), UNIVINSURE (-3.57%), and TRANSCORP (-1.01%).
The Oil & Gas Index led sectoral performance with a 0.59% gain, buoyed by a 1.58% uptick in ARADEL. The Commodities Index followed, climbing 0.31%, while the Banking Index rose 0.12%, supported by Fidelity Bank’s strong outing.
On the downside, the Insurance (-0.75%), Industrial Goods (-0.02%), and Consumer Goods (-0.01%) indices closed in the red due to sell-offs in NEM, WAPCO, and DANGSUGAR.
At market close, total capitalization rose by ₦459.43 billion to settle at ₦92.49 trillion, extending the bullish momentum that has characterized trading so far in October.
