On Wednesday, the equity market continued its bullish trend, adding N314 billion to investors’ portfolios. The market capitalization rose from N56.133 trillion to N56.447 trillion, reflecting a 0.56 percent increase.
The All-Share Index also advanced by 0.56 percent, or 545 points, closing at 98,230.92 points compared to 97,685.64 points on Thursday.
The market’s positive performance was driven by sustained interest in stocks such as Geregu, FBN Holdings, Access Corporation, Fidelity Bank, Oando Plc, and United Capital. The Year-To-Date (YTD) return increased by 31.37 percent.
Market breadth closed positive with 28 gainers and 26 losers. Sky Shelter Fund Plc led the gainers with a 9.99 percent increase, closing at N179.45. Honeywell Flour followed with a 9.96 percent rise, closing at N5.41. Meyer Plc, Academy Press, and Caverton also saw significant gains.
On the losing side, Northern Nigeria Flour Mills led with a 10 percent decline, closing at N39.15. Berger Paints followed with a 9.81 percent drop, closing at N21.60. Deap Capital Management and Trust Plc, Livestock, and Omatek also experienced losses.
Despite the gains, trade turnover was lower compared to the previous session, with transaction values down by 19.49 percent.