The Nigerian Stock Exchange witnessed a rally on Wednesday as the equity market recorded an overall gain of NGN 332 bn, bolstered by surging trading volumes and investor activity.

At the close of the session, 1,057,239,989 shares were exchanged across 15,080 deals, amounting to a market turnover of NGN 28.81 bn. This performance marked a 124 per cent increase in trading volume and a 45 per cent improvement in turnover compared with the previous trading day. The NGX currently boasts a market capitalisation of NGN 65.2 tn.

The benchmark All-Share Index added 536.54 points, or 0.51 per cent, to close at 105,324.89. This gain reflects a weekly increase of 0.74 per cent, a four-week rise of 1.05 per cent, and a year-to-date growth of 2.33 per cent.

In the day’s trading, 126 NGX-listed equities were active, with 37 stocks registering gains and 21 recording losses. Guinea Insurance led the winners with a 10 per cent surge, closing at NGN0.88 per share, followed closely by Eterna at 9.96 per cent, Cadbury Nigeria at 9.95 per cent, and International Energy Insurance at 9.91 per cent. On the losing side, May & Baker Nigeria fell by 9.88 per cent to finish at NGN 7.75 per share, while Academy Press and Thomas Wyatt Nigeria both dropped over 9 per cent.

Volume leaders included Access Holdings, which recorded the highest traded volume with 473 million shares, followed by FBN Holdings with 99.1 million shares, UAC of Nigeria with 46.4 million shares, and Zenith Bank with 44.7 million shares.

Other indices, such as the Top 30, Banking, Pension, Premium, Oil & Gas, and Main Board indices, also recorded positive movements.

The PUNCH reported that the Nigerian Exchange sustained its bullish momentum on Tuesday, as the market closed with a gain of N99bn.