The Nigerian Exchange (NGX) All-Share Index and market capitalisation surged during Wednesday’s intraday trading, driven by robust investor demand for banking stocks.
Strong buy-side momentum, particularly in Ecobank Transnational Incorporated (ETI) and Guaranty Trust Holding Company (GTCO), lifted market sentiment and fueled a fresh rally in Nigerian equities. The market recorded over ₦1 trillion in capital gains, pointing to strong prospects for further upside.
Apart from the banking sector, investors also showed interest in select industrial and consumer goods stocks amid the ongoing earnings season, which continues to influence stock selection.
At midday, the NGX All-Share Index climbed by 0.57%, according to Alpha Morgan Capital Limited, with stockbrokers attributing the gain to renewed interest in mid- to large-cap equities.
Top intraday gainers included ETI (+9.86%), Nigerian Breweries (+4.79%), International Breweries (+4.60%), GTCO (+4.31%), and AccessCorp (+1.65%). Others on the leaderboard were UCAP (+1.39%), Fidelity Bank (+1.25%), Zenith Bank (+1.15%), FBN Holdings (+1.01%), Dangote Sugar (+0.54%), Lafarge Africa (+0.30%), and UBA (+0.14%).
The market’s bullish tone reflects strong investor appetite and signals continued optimism as earnings results trickle in.
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