The Nigerian Exchange (NGX) extended its bullish streak on Wednesday, buoyed by solid half-year earnings reports and sustained macroeconomic stability.
The All-Share Index climbed by 0.99%, closing at 139,278.67 points, up from Tuesday’s figure of 137,912.87 points. This rise added N864 billion in value to the market, with the total capitalisation reaching N88.055 trillion—a similar 0.99% increase from the previous day’s N87.191 trillion.
Trading activity was also robust, with 922 million shares exchanged in 36,423 transactions, amounting to a total turnover of N35 billion.
Market sentiment remained upbeat, with 39 stocks recording gains compared to 31 that ended in the red.
Royal Exchange and MULTIVERSE emerged as the top gainers of the day, each appreciating by 10.00% to settle at N1.54 and N9.90 respectively, from their prior closing prices of N1.40 and N9.00.
Other significant gainers included Berger Paints, NPF Microfinance Bank, and Dangote Sugar, all of which rose by 9.97%.
On the flip side, FTN Cocoa and ABBEYBUILDING topped the list of losers, dropping 10.00% apiece to close at N6.30 and N6.48 respectively. Living Trust Insurance and Sunu Assurance also recorded notable declines of 9.97% and 9.61%.
In terms of trading volume, Fidelity Bank led the pack with around 90 million shares traded in 914 deals, valued at N1.89 billion. ACCESSCORP followed with 43 million shares transacted across 1,427 deals, amounting to N2.2 billion. Universal Insurance moved approximately 32 million shares through 110 deals, worth N21 million.
