Investors in the Nigerian stock market enjoyed a gain of N307 billion, fueled by heightened buying interest. The market capitalization of the Nigerian Exchange Limited increased by N307 billion, or 0.45 percent, closing at N68.412 trillion, up from N68.105 trillion on Tuesday.
The All-Share Index (ASI) also rose by 488.73 points, or 0.45 percent, finishing at 108,849.83. This growth was primarily driven by strong demand for medium- and large-cap stocks, including GTCO, Tantalizer, Fidelity Bank, Zenith Bank, and Nigerian Breweries.
This marks the fourth consecutive session of gains since last week. Despite the positive trend, the market breadth remained favorable, with 52 stocks gaining and 17 losing.
Among the top gainers, FG142027S1 surged by 22.75 percent, closing at N120.00, while UPDCREIT jumped by 10 percent to finish at N6.60 per share. Meyer Plc also experienced a 10 percent increase.
Meyer Plc experienced a 10 percent increase, closing at N8.80, while Beta Glass rose by 9.98 percent, finishing at N146.05 per share. The Initiates Plc also saw a gain of 9.95 percent, closing at N6.08 per share.
Conversely, Deap Capital Management fell by 10 percent, settling at N1.08, and Veritas Kapital Assurance dropped by 9.09 percent, ending the session at N1.00 per share. Linkage Assurance decreased by 6.61 percent, closing at N1.13, and Africa Prudential lost 5.60 percent, finishing at N16.00 per share. UPDC Real Estate Investment Trust also declined by 4.46 percent, closing at N3 per share.
In total, 587.47 million shares valued at N18.66 billion were traded across 17,496 transactions. This is an increase from the previous session, which saw 475.46 million shares worth N13.899 billion exchanged in 17,575 deals. Guaranty Trust Holding Company led the trading activity with 98.64 million shares valued at N6.57 billion, followed by Tantalizer with 75.48 million shares.
