Investors gained approximately N374 billion on the Nigerian Exchange (NGX) on Wednesday as sustained buying lifted equity market capitalisation above N163 trillion and pushed the All-Share Index to 251,191.02 points.
Equity market capitalisation increased from N162.683 trillion on Tuesday to N163.057 trillion, representing a one-day increase of approximately N374.14 billion.
The NGX All-Share Index advanced 0.23 percent to 251,191.02 points from 250,614.66 points in the previous session to extend the market’s positive performance for a third consecutive trading session this week.
Trading activity was characterised by a sharp increase in volume as investors exchanged 1.59 billion shares worth N45.82 billion in 49,836 deals.
Compared with Tuesday’s 837.26 million shares, trading volume increased by approximately 90 percent, driven largely by heavy transactions in Fortis Global Insurance.
However, the value of transactions declined by about 5.7 percent from N48.57 billion, while the number of deals fell approximately 4.4 percent from 52,126.
Fortis Global Insurance dominated market activity with 860.31 million shares worth N1.75 billion changing hands during the session.
The insurer alone accounted for approximately 54.1 percent of the 1.59 billion shares traded across the equities market, highlighting the unusually high concentration of Wednesday’s activity.
Fidelity Bank followed with 170.72 million shares worth N3.41 billion, while Guaranty Trust Holding Company recorded 86.19 million shares valued at N11.85 billion.
Dangote Sugar Refinery traded 36.49 million shares worth N2.54 billion, while Chams Holding Company recorded 35.34 million shares valued at N117.37 million.
Combined, the five most actively traded stocks accounted for approximately 1.19 billion shares, representing about 74.7 percent of total market volume.
Their combined transaction value stood at approximately N19.68 billion, equivalent to about 43 percent of the N45.82 billion exchanged across the market.
Price movements were also positive among several equities.
Eterna Plc led the reported gainers after rising 10 percent from N35 to N38.50.
Thomas Wyatt Nigeria advanced 9.88 percent from N2.53 to N2.78, while Critical Minerals Financing Corporation gained another 9.76 percent to close at N2.70.
Haldane McCall rebounded 9.70 percent from N2.99 to N3.28 after recording steep declines in the previous two sessions, while Omatek Ventures appreciated 9.63 percent to N1.48.
On the losing side, Caverton Offshore Support Group declined 9.09 percent from N4.40 to N4, while University Press fell 9 percent 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.
Activity in exchange-traded funds was also positive among the instruments reported for the session.
STANBICETF30 increased 10 percent from N1,537.30 to N1,691.03, while GREENWETF advanced from N804 to N849.99.
VSPBONDETF rose from N215.54 to N226.49, VETGOODS increased from N46.02 to N48.94, while MERGROWTH edged higher from N127 to N128.
The continued advance on Wednesday lifted the NGX All-Share Index further above the 250,000-point threshold and pushed equity market capitalisation to N163.06 trillion, with investors adding approximately N374 billion in market value during the session.
