The Nigerian Exchange Limited (NGX) extended its upward momentum on Wednesday as gains in large-cap and mid-cap stocks lifted the benchmark index and expanded market capitalisation despite lower transaction value.
The NGX All-Share Index (ASI) advanced by 0.78 percent to close at 178,184.35, compared to 176,809.42 recorded in the previous session.
Equity market capitalisation increased from ₦113,496,705,319,751.88 on Tuesday to ₦114,377,048,917,598.45, representing a gain of ₦880.34 billion.
However, total transaction value declined significantly. Market turnover fell from ₦50,426,609,601.03 on February 10 to ₦34,032,273,753.31, reflecting a decrease of ₦16.39 billion.
Trading activity showed:
Total capitalisation across asset classes stood at:
The divergence between rising market capitalisation and declining transaction value suggests that price appreciation in key index-weighted stocks drove the gains, while overall liquidity moderated.
Top Gainers
FTGINSURE led the gainers, rising 10.00 percent from ₦0.30 to ₦0.33.
Other advancers include:
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CONHALLPLC: ₦4.50 → ₦4.95 (+10.00%)
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NESTLE: ₦2,200.00 → ₦2,420.00 (+10.00%)
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MEYER: ₦19.00 → ₦20.90 (+10.00%)
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CAP: ₦90.20 → ₦99.20 (+9.98%)
The rally in NESTLE contributed significantly to the index’s upward movement due to its market weight.
Top Losers
FGSUK2033S6 recorded the steepest decline, falling 34.93 percent from ₦147.99 to ₦96.30.
Other decliners include:
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HONYFLOUR: ₦25.25 → ₦22.80 (-9.70%)
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NEIMETH: ₦14.20 → ₦12.90 (-9.15%)
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TIP: ₦20.65 → ₦19.45 (-5.81%)
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RTBRISCOE: ₦15.27 → ₦14.40 (-5.70%)
Most Active Stocks
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TANTALIZER: 85.32 million shares valued at ₦498.75 million
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ACCESSCORP: 61.36 million shares valued at ₦1.48 billion
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CHAMS: 38.60 million shares valued at ₦174.10 million
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JAPAULGOLD: 38.24 million shares valued at ₦89.51 million
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DEAPCAP: 36.79 million shares valued at ₦314.12 million
Fixed Income and ETF Market
Bond instruments largely closed flat, with no material price changes recorded across DAN2029S2TB, DIF2029S1TA, FG162029S1, FG172035S1 and FG182042S1.
ETFs recorded upward adjustments:
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SIAMLETF40: ₦13,552.00 → ₦14,640.00
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STANBICETF30: ₦6,367.24 → ₦6,927.00
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MERVALUE: ₦787.73 → ₦866.40
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GREENWETF: ₦945.00 → ₦990.00
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VETINDETF: ₦230.00 → ₦253.00
The session reflects sustained bullish sentiment in equities despite reduced liquidity compared to the previous trading day. With market capitalisation expanding by ₦880.34 billion, investor positioning in heavyweights continues to support the upward trajectory of the Exchange.
