The Nigerian Exchange (NGX) rebounded on Wednesday, regaining a market capitalization of N89 trillion, as investors returned to undervalued equities after weeks of persistent selloffs.
Sustained bargain hunting fueled the rally, with investors re-establishing positions in fundamentally strong stocks with long-term growth potential.
Key indicators reflected the positive trend as the All-Share Index (ASI) rose by 300.48 points to close at 140,665.84, representing a 0.21% gain. Market capitalization also climbed by ₦190.13 billion, settling at ₦89.00 trillion.
Despite the rebound, overall market activity slowed. Total trading volume dropped by 50.74%, while the value of transactions fell by 69.47%. In total, 378.18 million units worth ₦12.41 billion were exchanged across 22,935 deals.
JAPAULGOLD topped the volume chart, accounting for 11.16% of total trades, followed by ZENITHBANK (7.41%), UBA (7.24%), ACCESSCORP (6.72%), and NB (4.91%). ZENITHBANK also emerged as the leader in trade value, contributing 15.06% of total market value.
The day’s top gainers included GUINNESS, LIVINGTRUST, and CILEASING, each rising by 10.00%. Other notable advancers were ETRANSACT (+9.68%), REGALINS (+9.42%), CAP (+9.23%), and NCR (+8.96%).
Conversely, twelve stocks declined, with NEM leading the losers’ list after falling -9.94%, followed by MANSARD (-4.76%), ELLAHLAKES (-4.29%), and CONHALLPLC (-4.28%).
Market breadth remained positive with 41 gainers and 12 losers. Sectoral performance was mixed: banking gained +0.78%, consumer goods added +0.21%, and industrial stocks edged higher by +0.04%. Insurance slipped -1.16%, while oil & gas was unchanged.
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