The Nigerian Exchange (NGX) maintained its upward trajectory on Wednesday as the All-Share Index (ASI) inched higher by 0.02% to close at 147,742.22 points, extending the cautious optimism that began earlier in the week.
Market capitalization also rose slightly to ₦93.78 trillion, adding roughly ₦20 billion in value amid moderate trading activity.
Market Performance Overview
The session recorded 389.11 million shares traded in 23,017 deals, with a total value of ₦12.48 billion, showing a mild decline in volume from the previous day’s 495 million units. Despite the lower activity, investor sentiment remained steady, reflecting cautious accumulation in defensive and high-value counters ahead of upcoming corporate disclosures and economic data releases.
Top Gainers
The day’s rally was anchored by gains in select equities and debt instruments.
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FGSUK2027S3 led the chart, appreciating by 13.32% to ₦84.99, buoyed by renewed interest in sovereign-linked securities.
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SFS Real Estate Investment Trust (SFSREIT) advanced 9.88% to ₦418.75, extending its strong rebound from the previous session.
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Royal Exchange Plc gained 7.37% to ₦2.33, while International Energy Insurance Plc (INTENEGINS) and Julius Berger Plc (JBERGER) also posted solid gains of 6.05% and 5.51%, respectively.
Top Losers
Bearish activity persisted in mid-tier stocks as investors locked in short-term profits.
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Tripple Gee & Co Plc (TRIPPLEG) topped the laggards, falling 9.91% to ₦4.91, while IMG Plc lost 9.87% to close at ₦32.40.
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UACN Plc declined 6.46% to ₦68.00, amid portfolio rebalancing.
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Ellah Lakes Plc and Japaul Gold Plc also dipped by 4.66% and 4.51%, respectively, indicating mild sell pressure in speculative counters.
Top Trades
Market activity was led by financial sector players:
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Fidelity Bank Plc dominated the trading chart with 46.87 million shares valued at ₦942.31 million, followed by Chams Holding Company Plc with 24.76 million units worth ₦101.42 million.
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Zenith Bank Plc, Access Holdings Plc, and FBN Holdings Plc rounded out the top five actively traded equities, highlighting continued investor confidence in the banking sector.
Fixed Income Market
The bond segment reflected mild bullish sentiment as yields moderated on select maturities:
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FGS202665 appreciated by ₦20.00 to close at ₦100.00, while FG202033S6 gained ₦5.02 to settle at ₦119.38.
Other bonds, including FG6B2029S5, FGEUR2033S11, and FGS202139, remained unchanged, indicating selective interest among institutional participants.
Exchange-Traded Funds (ETFs)
ETF trading was notably strong, supported by solid performance in commodity-linked instruments:
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NEWGOLD rose by ₦899.99 to ₦53,000.00, reflecting sustained interest in gold-backed assets amid inflationary pressures.
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GREENWETF appreciated by ₦30.00 to ₦390.00, while MERVALUE gained ₦15.60 to close at ₦174.00.
Other ETFs, such as VETINDETF and VETGOODS, closed flat.
Market Outlook
The market’s marginal gain reinforces the ongoing cautious optimism seen since early October. Analysts at Investors King expect short-term rotations to persist across the industrial, banking, and energy sectors as investors rebalance positions ahead of third-quarter earnings.
Barring unexpected macroeconomic shocks, the ASI is projected to test the 148,000-point threshold in the coming sessions, driven by selective buy sentiment and liquidity inflows into top-tier stocks
