Stock market records N33.3bn turnover amid continued rally

The Nigerian stock market maintained its positive momentum on Wednesday, transacting 815.48 million shares valued at N33.3 billion across 52,641 deals, even as overall trading volume dipped compared to Tuesday.

Leading activity on the trading floor were Wema Bank with 77.75 million shares worth N2.03 billion, Guaranty Trust Holding Company with 73.7 million shares valued at N8.97 billion, and Access Corporation with 62.9 million shares worth N1.64 billion.

Other notable movers included First Holding Company (59.4 million shares, N2.9 billion) and Zenith Bank (49.7 million shares, N5.2 billion).

Investor confidence remained strong, with sustained buying interest in stocks such as UPDCredit, International Energy Insurance, RT Briscoe, Mutual Benefits Assurance, and Zenith Bank, contributing to an overall boost in portfolios.

The market capitalization rose from N129.209 trillion to N129.809 trillion, adding N600 billion to investors’ wealth.

The All-Share Index (ASI) gained 415.77 points, closing at 201,703.55, marking a 0.21% increase and pushing the Year-to-Date (YTD) return to 29.62 per cent.

Despite the uptrend, the market breadth was negative, with 41 losers and 22 gainers. Major decliners included Nestlé Nigeria and Omatek, both down 10 per cent, while FTN Cocoa Processors shed 9.97 per cent, CHAMS fell 9.79 per cent, and May & Baker lost 9.74 per cent.