The Nigerian Exchange sustained its bullish momentum on Wednesday as investors gained ₦459 billion at the close of trading.
The market capitalisation, which opened at ₦92.031 trillion, rose by ₦459 billion or 0.50 per cent to close at ₦92.490 trillion.
Similarly, the All-Share Index appreciated by 0.50 per cent or 723.83 points to close at 144,995.26 compared to 145,719.09 recorded in the previous session.
The positive outing was driven by increased demand for shares of FTN Cocoa Processors, Livingtrust Mortgage Bank, Eterna, Prestige Assurance, Fidelity Bank, and other advancing stocks.
Despite the overall market gain, breadth closed negative as 34 equities declined while 29 appreciated. Industrial and Medical Gases led the losers’ table, shedding 9.97 per cent to close at ₦32.95.
Livingtrust Mortgage Bank followed with a 9.93 per cent drop to ₦5.35, while Sunu Assurances dipped by 9.48 per cent to ₦5.25 per share. Jaiz Bank fell by 7.53 per cent to ₦4.30 and Chams lost 6.28 per cent to close at ₦4.33 per share.
Conversely, FTN Cocoa Processors led the gainers’ table with an 8.89 per cent increase to ₦6.00 per share. Livestock Feeds rose by 7.43 per cent to ₦7.95, while Eterna appreciated by 6.96 per cent to ₦41.50 per share.
Prestige Assurance gained 4.94 per cent to ₦1.70 and Fidelity Bank advanced by 4.74 per cent to ₦21.00.
Market activity showed mixed performance, with improvements in volume traded but declines in both value and the number of deals.
A total of 525.72 million shares valued at ₦13.61 billion were exchanged in 25,597 deals, compared to 507.41 million shares worth ₦24.29 billion traded in 30,681 deals in the previous session.
Consolidated Hallmark Holdings emerged as the most actively traded stock by volume with 83.54 million shares valued at ₦351.03 million.
It was followed by FBN Holdings with 36.54 million shares worth ₦1.13 billion, while Jaiz Bank recorded 28.7 million shares valued at ₦125.56 million. Chams traded 24.46 million shares worth ₦106.69 million, and Ellah Lakes exchanged 21.37 million shares valued at ₦300.23 million.
The sustained uptrend reflects cautious optimism among investors who continue to take positions in select mid- and large-cap stocks ahead of upcoming third-quarter earnings reports.
