The Nigerian Stock Market made a strong comeback on Wednesday, posting a remarkable N378 billion gain after enduring four consecutive sessions of losses.
Data from the Nigerian Exchange Limited (NGX) showed that the market capitalization surged by 0.5%, closing at ₦76.179 trillion, compared to ₦75.801 trillion on Tuesday. Similarly, the All-Share Index (ASI) increased by 598.67 points, ending the trading session at 120,339.90, up from 119,741.23.
Investor Confidence Returns
The rebound was fueled by renewed investor interest across 62 stocks, leading to a positive market breadth, with 61 gainers outpacing 16 losers.
Top gainers for the day included:
- C&I Leasing: +10%, closing at ₦5.06
- Cutix Plc: +10%, at ₦3.96
- Ellah Lakes: +10%, at ₦9.24
- International Energy Insurance: +10%, ending at ₦1.98
- Omatek Ventures: +10%, closing at 88 kobo
Key Losers
Despite the broad market rally, some stocks still closed in the red:
- Deap Capital: -9.09%, settling at ₦1.00
- John Holt: -5.41%, to ₦7.00
- Dangote Sugar: -5.32%, closing at ₦44.50, following the retirement of Chairman Aliko Dangote
- Universal Insurance: -4.76%, at 60 kobo
- Oando Plc: -4.73%, closing at ₦52.35
Trading Volume Soars
Trading activity also increased significantly:
- 1.05 billion shares valued at ₦12.17 billion were exchanged in 21,964 deals, compared to 527.1 million shares worth ₦11.28 billion across 21,546 deals recorded on Tuesday.
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Top traded stock:
Royal Exchange led the chart with 218.7 million shares valued at ₦229.11 million.
Other active stocks included:
- Ja Paul Gold
- Ellah Lakes
- Wema Bank
- CHAMS
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