The Nigerian Exchange Limited (NGX) closed on a positive note on Wednesday as strong buy interest across key equities lifted the market capitalisation by ₦224 billion to ₦71.12 trillion.
The NGX All-Share Index (ASI) advanced by 0.32 percent to close at 112,781.73 basis points, up from 112,427.48 points recorded in the previous session.
Year-to-date, the equities market has now returned 9.58 percent.
Oando Plc led the gainers’ chart with ₦4.70 or a 10 percent gain to close at ₦51.70 per share. UH REIT followed closely with a ₦4.55 or 9.96 percent increase to ₦50.25.
Other major advancers included Legend Internet, which added 40 kobo or 7.27 percent to close at ₦5.90 and Lasaco Assurance Plc, which gained 20 kobo or 6.67 percent to settle at ₦3.20.
Trading activity remained robust. A total of 611.53 million shares were exchanged in 13,682 deals, with a total turnover value of ₦16.68 billion. High-volume trades were observed in Fidelity Bank, GTCO, Royal Exchange, UBA and Access Holdings, indicating sustained investor interest in banking and insurance stocks.
Despite the absence of major macroeconomic drivers, market sentiment remained resilient, supported by dividend-driven flows and renewed institutional positioning.
Commenting on the session, analysts at Vetiva Capital Management noted, “Without any major headlines to shake things up, it really comes down to those dividend-driven flows keeping sentiment ticking over.”
The positive momentum reflects a broader trend of cautious optimism among investors amid expectations of sustained corporate earnings and relatively stable macroeconomic indicators.
Barring any major market disruptions, analysts expect near-term activity to remain driven by institutional portfolio realignments and dividend expectations ahead of upcoming half-year earnings releases.
