Eterna Plc gained 10 percent on the Nigerian Exchange (NGX) on Wednesday to lead the day’s gainers as the broader equities market extended its rally.
The energy company’s share price rose by N3.50 from N35 to N38.50, representing the maximum 10 percent daily price appreciation.
Eterna’s advance placed the stock ahead of other major gainers during the trading session as buying interest continued across selected equities.
Thomas Wyatt Nigeria followed with a 9.88 percent gain, rising from N2.53 to N2.78, while Critical Minerals Financing Corporation advanced 9.76 percent from N2.46 to N2.70.
Haldane McCall gained 9.70 percent to N3.28 after two consecutive sessions of losses, while Omatek Ventures appreciated 9.63 percent from N1.35 to N1.48.
The gains came as the broader NGX market maintained its upward momentum.
The NGX All-Share Index advanced 0.23 percent to 251,191.02 points from 250,614.66 points in the previous trading session.
The increase represented a gain of 576.36 index points during Wednesday’s session.
Equity market capitalisation also increased by approximately N374 billion, rising from N162.68 trillion on Tuesday to N163.06 trillion.
Trading activity strengthened significantly by volume as investors exchanged 1.59 billion shares worth N45.82 billion in 49,836 deals.
The 1.59 billion shares represented an increase of approximately 90 percent from the 837.26 million shares traded in the previous session.
Fortis Global Insurance accounted for much of the increase after 860.31 million shares in the company changed hands, representing approximately 54 percent of total market volume.
However, trading value declined from N48.57 billion in the previous session to N45.82 billion, while the number of deals moderated from 52,126 to 49,836.
On the losing side, Caverton Offshore Support Group declined 9.09 percent from N4.40 to N4, while University Press fell 9 percent from N5 to N4.55.
Wapic Insurance declined 6.30 percent to N2.23, while Veritas Kapital Assurance lost 5.45 percent to close at N1.04.
Eterna’s 10 percent appreciation to N38.50 therefore placed the energy company at the top of Wednesday’s gainers as the NGX extended its advance and equity market capitalisation crossed N163 trillion.
