The Nigerian Stock Exchange (NGX) closed Wednesday’s trading session on a strong note, recording a significant surge in market activity driven largely by heavy volume trades, despite a decline in the number of executed deals.
At the close of trading, a total of 1.75 billion shares were exchanged in 19,362 deals, with an aggregate turnover of ₦29.05 billion.
Compared with the previous trading day, Tuesday, December 23, market data showed a 158 per cent increase in trading volume and a 40 per cent improvement in turnover. However, the number of deals declined by 30 per cent, suggesting fewer but larger transactions.
The overall market capitalisation of the NGX remained at ₦97.9 trillion, reflecting sustained investor participation across key sectors of the market.
In total, 127 listed equities were actively traded during the session. Market breadth closed positive, with 36 gainers outweighing 22 losers, indicating a broadly bullish sentiment among investors.
Guinness Nigeria Plc led the gainers’ chart, appreciating by 9.98 per cent to close at ₦318.60 per share. It was followed closely by Austin Laz & Company, which gained 9.97 per cent, International Breweries, which rose by 9.85 per cent, and Transcorp Hotels, which advanced by 9.83 per cent.
On the flip side, Legend Internet topped the losers’ table after shedding 9.26 per cent to close at ₦4.90 per share. Other notable decliners included AXA Mansard Insurance (-7.14 per cent), Jaiz Bank (-5.45 per cent), and MTN Nigeria (-5.21 per cent).
In terms of activity, Abbey Mortgage Bank dominated the volume chart, with a massive 1.12 billion shares traded. This was followed by Sterling Bank with 127 million shares, Custodian & Allied with 115 million shares, and First HoldCo, which recorded 40.9 million shares traded.
Market watchers noted that the sharp rise in volume, despite fewer deals, points to increased institutional participation and block trades, as investors reposition their portfolios amid ongoing market dynamics.
