The Nigerian Exchange Limited achieved a significant milestone on Wednesday, with the All-Share Index surpassing 101,571.11 points, marking a remarkable 3% increase. This historic feat propelled market capitalization to an impressive N55.58 trillion, as equities surged by N1.62 trillion from the previous day’s N53.97 trillion.
Despite the extraordinary surge in market value, trading volume experienced a 34.65% decline, with a total of 488.49 million units traded, down from 747.51 million units the day before. Similarly, trading value plummeted by 50.6% to N8.04 billion, compared to Tuesday’s N16.28 billion.
Analyzing Wednesday’s trading activity revealed notable performances. WAPIC led the gainers, soaring by 10.00% to close at N0.88, followed by BUACEMENT, which surged by 9.98% to close at N179.65, and JAPAULGOLD, rising by 9.91% to close at N2.55, among others. Conversely, NEM, CADBURY, TIP, and MAYBAKER were among the top losers, experiencing declines ranging from 9.89% to 10.00%.
In terms of trading volume, TRANSCORP took the lead with 95.11 million units, followed by UNIVINSURE, UNITYBNK, JAIZBANK, and JAPAULGOLD. As for trading value, TRANSCORP topped the list, followed by BUACEMENT, UBA, DANGCEM, and ZENITHBANK.
Noteworthy gains from stocks valued at over N1 trillion primarily fueled the market rally, with BUACEMENT, BUAFOODS, DANGCEM, GTCO, and ZENITHBANK recording impressive price gains. However, UBA and ACCESSCORP documented price losses.
The market also witnessed stable prices for well-known stocks such as AIRTELAFRI, MTNN, TRANSCOHOT, GEREGU, and SEPLAT, while FBNH continued to experience a bearish trend, with its shares declining by 0.78% on Wednesday.
