The total market capitalization of all listed companies on the Nigerian Exchange (NGX) increased by ₦20 billion on Wednesday, buoyed by renewed investor confidence and light buying momentum across key sectors.
The modest rebound came after a brief negative session, with the stock market reversing earlier losses to post a 0.02% gain for the day. The positive movement was largely supported by renewed demand for select stocks, including Skye Shelter Fund, Royal Exchange, International Energy Insurance, Julius Berger, and Omatek Ventures.
Equities Market Rebounds
Data from the NGX showed that market capitalization opened at ₦93.756 trillion and closed at ₦93.776 trillion, reflecting a ₦20 billion increase in investor wealth. The All-Share Index also rose slightly by 0.20% or 31.27 points, ending the session at 147,742.23 points compared to 147,710.96 points recorded on Tuesday.
Market breadth closed positive, with 34 gainers outperforming 28 losers, signaling improved sentiment among market participants.
Leading the gainers’ chart was Skye Shelter Fund, which appreciated by 9.88% to close at ₦418.75 per share. Royal Exchange followed with a 7.37% gain to ₦2.33, while International Energy Insurance climbed 6.05% to ₦2.98 per share. Julius Berger gained 5.51% to finish at ₦134 per share, and Omatek Ventures advanced 4.90% to close at ₦1.50 per share.
Top Losers and Trading Activity
On the flip side, Tripple Gee led the laggards’ table, declining by 9.91% to close at ₦4.91 per share. Industrial and Medical Gases followed, losing 9.87% to end at ₦32.40, while UAC of Nigeria shed 6.46% to close at ₦68 per share.
Other notable decliners included Ellah Lakes, which dipped by 4.66% to ₦13.30 per share, and Ja Paul Gold, which fell 4.51% to ₦2.54 per share.
Market activity levels improved significantly, with total traded volume, value, and deals showing notable increases. Investors traded 389.1 million shares valued at ₦12.5 billion across 23,017 transactions, compared to 262.5 million shares worth ₦8.3 billion traded in 16,693 deals on Tuesday.
Fidelity Bank led the activity chart by volume with 46.9 million shares valued at ₦942.3 million. CHAMS followed with 24.8 million shares worth ₦101.4 million, while Zenith Bank recorded 20.8 million shares valued at ₦1.42 billion. Access Corporation traded 19.2 million shares valued at ₦495.3 million, and FirstHoldCo sold 16.6 million shares worth ₦519.7 million.
Sectoral Performance
Across key sectors, performance was largely positive. The Consumer Goods (+0.09%), Oil & Gas (+0.09%), and Industrial (+0.08%) indices led the charge, driven by buying interest in stocks such as International Breweries (+1.72%), Oando (+1.25%), and Lafarge WAPCO (+0.54%).
Conversely, the Banking (-0.15%) and Insurance (-0.13%) sectors declined slightly due to sell-offs in GTCO (-0.64%) and AIICO Insurance (-0.75%). The Commodity Index closed unchanged.
Analyst Insight
Market analysts attributed the day’s positive sentiment to bargain-hunting activities and expectations of improved third-quarter corporate earnings. They also noted that local investors are gradually regaining confidence amid indications of macroeconomic stability and sustained foreign exchange reforms by the Central Bank of Nigeria (CBN).
“The market’s mild rebound reflects renewed optimism ahead of upcoming earnings reports. We expect trading sentiment to remain cautiously positive as investors reposition their portfolios for value,” analysts stated.
 market capitalization rose by ₦20 billion on Wednesday, driven by renewed investor interest and positive movements across consumer and oil sectors.){kind=link}