By Seun Ibiyemi
The Nigerian equities market extended its bullish run on Wednesday, gaining ₦861 billion as investor confidence remained strong across key sectors.
Market capitalisation rose from ₦140.523 trillion to ₦141.384 trillion, representing a 0.61 per cent increase.
Similarly, the All-Share Index (ASI) advanced by 1,336.39 points, or 0.61 per cent, to close at 219,586.20 from 218,249.81.
Analysts attributed the positive performance to renewed buying interest in fundamentally strong stocks, reflecting sustained investor appetite in the market.
Top gainers included Transcorp Hotels Plc, Vitafoam Nigeria Plc, UAC of Nigeria Plc, Chemical and Allied Products Plc, and Trans-Nationwide Express Plc, alongside 26 other advancing equities.
As a result, the market’s year-to-date (YTD) return climbed to 41.11 per cent, while market breadth remained positive with 31 gainers against 28 losers.
On the gainers’ chart, Transcorp Hotels Plc and other leading stocks recorded gains of up to 10 per cent, closing at ₦223.30, ₦143, ₦121, ₦110, and ₦7.92 respectively.
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On the downside, Neimeth International Pharmaceuticals Plc led the losers, shedding 10 per cent to close at ₦9 per share. Abbey Mortgage Bank Plc declined by 9.85 per cent to ₦5.95, while LivingTrust Mortgage Bank Plc dropped by 8.94 per cent to ₦3.36.
Also, ABC Transport Plc fell by 8.65 per cent to ₦5.70, and Haldane McCall Plc lost 6.23 per cent to close at ₦3.61 per share.
Trading activity, however, weakened, with total volume declining by 18.85 per cent to 683.68 million shares valued at ₦36.17 billion, exchanged in 51,694 deals.
First HoldCo Plc dominated trading activity, recording 76.64 million shares worth ₦5.78 billion, accounting for 11.21 per cent of total volume and 15.99 per cent of total value traded for the day.
