By Seun Ibiyemi
The Nigerian stock market closed on a positive note on Wednesday, with investors gaining approximately ₦99 billion as sustained buying interest in selected large- and mid-cap stocks lifted key market indicators.
Market capitalisation advanced by 0.06 per cent to close at ₦157.042 trillion, up from ₦156.943 trillion recorded in the previous trading session.
Similarly, the All-Share Index (ASI) appreciated by 154.59 points, representing a gain of 0.06 per cent, to settle at 244,852.21 points, compared with 244,697.62 points posted on Tuesday.
The positive performance further strengthened the market’s Year-to-Date (YTD) return to 57.35 per cent, reflecting continued investor confidence in the equities market.
Despite the overall gain, market breadth remained negative as 37 stocks declined against 30 gainers, indicating that profit-taking activities persisted across a wider segment of listed equities.
On the losers’ chart, FG142037S2 recorded the steepest decline, shedding 26.67 per cent to close at ₦95.33. It was followed by Neimeth Pharmaceuticals, which dropped 10 per cent to settle at ₦9.00 per share.
Also among the laggards were International Energy Insurance, which declined by 9.92 per cent to ₦7.90, while John Holt lost 9.73 per cent to close at ₦13.45 per share.
Union Homes Real Estate Investment Trust also depreciated by 8.56 per cent to finish at ₦70.00 per share.
On the gainers’ table, Livestock Feeds Plc led the pack with a 10 per cent increase, closing at ₦9.35 per share.
It was followed by Deap Capital Management & Trust Plc, which gained 9.86 per cent to close at ₦5.35, while Abbey Mortgage Bank Plc appreciated by 9.78 per cent to settle at ₦12.35 per share.
Other notable gainers included Vitafoam Nigeria Plc, which rose by 8.25 per cent to ₦210.00, and FTN Cocoa Processors Plc, which advanced by 6.54 per cent to close at ₦9.45 per share.
Trading activity, however, declined during the session. Total volume traded fell by 3.47 per cent to 1.23 billion shares valued at ₦38.84 billion and exchanged in 54,193 deals.
Sterling Financial Holdings Company Plc emerged as the most actively traded stock by volume, accounting for 565.33 million shares, representing 46.10 per cent of the total shares traded on the exchange.
In value terms, Aradel Holdings Plc led the market with transactions worth ₦6.82 billion, accounting for 17.55 per cent of the total value traded.
Analysts said the market’s resilience, despite negative breadth and lower trading activity, reflects sustained investor appetite for fundamentally strong stocks, particularly within the banking, consumer goods and industrial sectors.
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