The Nigerian Exchange (NGX) maintained its upward trajectory on Wednesday, as a surge in large-cap equities propelled market capitalization upward by N881 billion. The gain, representing a 0.78 percent increase, lifted total market value to N114.377 trillion, building on consecutive days of significant investor profits.
The All-Share Index rose commensurately by 0.78 percent, adding 1,375.11 points to close at 178,184.54. This performance extends the market’s positive year-to-date return to 14.50 percent. Market breadth was favorable, with 49 stocks advancing against 32 decliners.
The rally was primarily driven by renewed interest in leading blue-chip companies. Meyer, Nestlé Nigeria, Fortis Global Insurance, and Consolidated Hallmark Holdings each capped at a 10 percent daily increase, closing at N20.90, N2,420, 33 kobo, and N4.95 per share, respectively. Other notable gainers included Zichis Agro Allied Industries.
On the losing side, Honeywell Flour Mills led the declines, dropping 9.70 percent to N22.80 per share. Neimeth International Pharmaceutical, The Initiates, RT Briscoe, and Sterling Nigeria also featured among the day’s notable decliners.
Trading activity revealed a shift in volume and value. A total of 939.2 million shares, worth N34.03 billion, exchanged hands across 61,279 transactions. This marked an 11 percent reduction in share volume and a 30 percent fall in traded value compared to the previous session, though the number of deals increased by four percent.
Tantalizer was the most traded stock by volume, with 85.32 million shares changing hands. In terms of value, Aradel Holdings dominated, accounting for N2.98 billion—8.77 percent of the session’s total turnover.
The results follow gains of N1.8 trillion on Tuesday and N1.4 trillion on Monday, underscoring a sustained bullish phase on the NGX. The consistent inflow into large and mid-cap stocks suggests growing investor confidence in the Nigerian equities market amid the broader positive trend.
