Investors in Nigeria’s equities market recorded significant gains on Wednesday, as a surge in share prices across major sectors—led by Zenith Bank and Cadbury Nigeria—helped the local bourse rebound from a four-day decline, adding ₦379 billion to market capitalization.
The Nigerian Exchange (NGX) saw a positive close as the benchmark All-Share Index advanced by 598.67 points, reflecting a 0.50% increase to end trading at 120,339.90.
Analysts reported renewed investor appetite for medium and large-cap stocks, with particular interest in financials. Zenith Bank alone added more than ₦39 billion in market value, bolstering overall investor confidence.
Trading volumes surged impressively, with total transaction volume and value rising by 104.20% and 10.73% respectively. According to Atlass Portfolio Limited, a total of 1.05 billion shares worth ₦12.17 billion were exchanged in 21,964 trades.
ROYALEX topped the volume chart, contributing 20.87% of total shares traded, followed by JAPAULGOLD (16.61%), ELLAHLAKES (7.96%), WEMABANK (6.79%), and CHAMS (3.59%). In terms of value, WEMABANK emerged as the most traded stock, accounting for 8.78% of total trade value.
The gainers’ list was led by CILEASING, ELLAHLAKES, NSLTECH, SMURFIT, THOMASWY, CUTIX, INTENEGINS, and OMATEK—all appreciating by 10% each. Other notable advancers included CAVERTON (+9.98%), MEYER (+9.95%), FTNCOCOA (+9.95%), HONYFLOUR (+9.94%), and LEARNAFRCA (+9.92%).
Significant bargain hunting was recorded in several stocks, including NEIMETH, MAYBAKER, CAP, CADBURY, and ZENITHBANK, driving bullish sentiment across key sectors.
Conversely, fifteen equities declined. DEAPCAP led the laggards with a -9.09% drop, followed by DANGSUGAR (-5.32%), OANDO (-4.73%), VFDGROUP (-4.11%), STANBIC (-2.35%), and FIDSON (-0.45%).
Market breadth closed strongly positive, with 61 stocks advancing against 15 decliners. Sectoral indices mirrored this performance: the Consumer Goods sector rose 1.78%, Insurance gained 0.76%, Industrials increased 0.52%, and Banking edged up 0.19%. The Oil & Gas index, however, slipped by 0.45%.
Overall, the Nigerian Exchange added ₦378.98 billion in value, extending a positive outlook as investors respond to earnings optimism and undervalued opportunities across the board.
