The Nigerian Exchange Limited recorded a strong trading session on Wednesday as investor optimism returned to the equities market, pushing total market capitalisation up by N598bn to close at N106.78tn.
The increase reflects a 0.56 per cent rise over the previous session and underscores growing confidence among investors despite a slowdown in overall trading activity.
A total of 752.4 million shares changed hands in 55,739 deals, generating a turnover of N29.62bn. Compared with Tuesday’s trading session, this represents a 33 per cent decline in volume and a 12 per cent drop in turnover, although the number of deals rose by 13 per cent, suggesting sustained interest in select equities even as trading activity slowed.
Trading activity was broad-based, with 131 equities participating. Forty-seven stocks recorded gains, led by Academy Press, which surged 10 per cent to close at N8.25 per share. NCR Nigeria followed with a 9.98 per cent increase, Tripple Gee and Co rose 9.95 per cent, while Tantalizers gained 9.93 per cent. On the other hand, twenty-eight stocks ended the session lower. May and Baker Nigeria led the decliners with a 9.79 per cent drop to N28.55 per share. Coronation Insurance declined 6.76 per cent, Livestock Feeds lost 6.67 per cent, and PZ Cussons shed 6.52 per cent.
Access Holdings recorded the highest volume of trading, with 53.41 million shares exchanging hands for a total value of N1.24bn. Lasaco Assurance followed with 39 million shares traded for N100.2m, while Veritas Kapital Assurance and Tantalizers recorded 32.79 million and 30.13 million shares, respectively, valued at N69.6m and N89.5m.
On the value side, Aradel led with N8.99bn from 11.33 million shares traded. Seplat came second with N4.02bn, MTN Nigeria traded shares worth N1.64bn, Zenith Bank recorded N1.25bn, while Access Holdings accounted for N1.24bn of traded value.
Market analysts said the session’s gains were driven by bargain-hunting and renewed confidence in select blue-chip stocks. Investors focused on equities with strong fundamentals, particularly in the consumer and technology sectors, which were the main drivers of Wednesday’s rally. Analysts noted that while the market gained significantly in capitalisation, the decline in volume and turnover highlights a cautious approach among investors. The increase in deals indicates that smaller investors and traders are still participating selectively, seeking opportunities in stocks perceived to offer stable returns.
Consumer-focused companies were among the top beneficiaries of the market rally. Academy Press, Tripple Gee, and Tantalizers led the charge, reflecting investor appetite for stocks with consistent earnings potential. Financial and insurance stocks experienced mixed performance as May and Baker, Wapic, and Livestock Feeds lagged behind, showing sector-specific pressures despite overall market gains.
The PUNCH reported that the Nigerian Exchange Limited extended its bullish run on Tuesday as sustained buying interest in key stocks lifted total market capitalisation by N1.66tn, reinforcing positive investor sentiment in the equities market.
