Equities on the Nigerian Exchange (NGX) closed higher on Wednesday, as strong performances from Seplat Energy, Transcorp, and Zenith Bank helped drive a broad market rally that added over ₦598 billion to investors’ wealth.
The benchmark NGX All-Share Index advanced by 0.56 per cent, reflecting sustained bullish sentiment across the market. The index rose by 56 basis points to settle at 166,771.95 points, extending the ongoing upward trend fueled by renewed investor confidence.
Market capitalisation increased by 0.56 per cent to ₦106.78 trillion, translating to a ₦598.41 billion gain, while the year-to-date return improved to 7.17 per cent.
The rally was supported by gains in several heavyweight stocks, including SEPLAT, MBENEFIT, CHAMPION, ARADEL, TRANSCORP, ZENITHBANK, VITAFOAM, FIRSTHOLDCO, DANGSUGAR, NGXGROUP, and 37 other advancing equities.
Sectoral performance was largely positive, with four of the five major indices closing in the green. The Oil and Gas index led the market, rising by 6.26 per cent on the back of sustained buying interest in SEPLAT, ARADEL, and JAPAULGOLD.
The Insurance index followed with a 0.78 per cent gain, driven by price appreciation in MBENEFIT and AIICO. Meanwhile, the Banking index edged up by 0.05 per cent, supported by gains in JAIZBANK, ZENITHBANK, and FIRSTHOLDCO.
The Industrial Goods index recorded a modest increase of 0.01 per cent, buoyed by advances in CAVERTON and CWG.
In contrast, the Consumer Goods index closed lower, shedding 0.2 per cent due to declines in PZ, NASCON, HONYFLOUR, and INTBREW.
Despite the market’s upward movement, trading activity weakened. Total volume traded declined by 32.64 per cent to 761.94 million units, while transaction value fell by 11.03 per cent to ₦29.85 billion.
Market breadth, a measure of overall sentiment, also moderated. The gainers-to-losers ratio dropped to 2.45x from the previous session’s 4.15x, as 47 stocks advanced, 28 declined, and 56 closed unchanged.
The day’s performance underscores continued investor optimism, particularly in energy, banking, and insurance stocks, even as reduced trading volumes suggest a cautious approach among market participants.
 closed higher on Wednesday, as strong performances from Seplat Energy, Transcorp, and Zenith Bank helped drive a broad market rally that added over ₦598 billion to investors’ wealth.){kind=link}