The Nigerian stock market closed on a mixed note on Wednesday as the All-Share Index (ASI) declined by 0.05% or 48.15 points to settle at 102,788.20 index points.
Market capitalisation closed at N63.1 trillion while the volume traded increased by 0.14% from 393 million shares recorded in the previous trading session to 394.3 million shares in 12,160 transactions.
Guaranty Trust Holding Company (GTCO) and United Bank for Africa (UBA) were the most actively traded stocks of the day.
GTCO recorded 42.1 million shares while UBA followed closely with 37.4 million shares traded.
In terms of trading value, SEPLAT Energy Plc dominated the session with transactions worth N7.9 billion. ARADEL also made a notable contribution with N3.2 billion in trades while GTCO and BUAFOODS accounted for N2.5 billion and N1.3 billion, respectively. UBA rounded out the top performers with a trading value of N1.2 billion.
Stock performance remained mixed with SCOA and DAARCOMM recording gains of 9.76% and 9.09%, respectively.
However, MORISON and CILEASING dipped by 9.98% and 9.91%.
Market analysts remain optimistic about the potential for a rebound in the All-Share Index and projected a possible test of the 105,000-mark in the near term.
Expectations of positive fourth-quarter earnings results and a favorable investment climate could reignite buying momentum and position the market for stronger performances in subsequent sessions.
As investors navigate the evolving dynamics, GTCO and UBA’s sustained leadership in trading activity underscores their pivotal role in driving liquidity and investor engagement in Nigeria’s equities market.
The market’s resilience amidst volatility highlights the enduring appeal of strategic investments in key sectors.