The Nigerian Exchange Limited (NGX) maintained its strong bullish momentum on Wednesday, with investors reaping N186 billion in profits. The market capitalization of NGX increased by N186 billion, or 0.27 percent, reaching N68.543 trillion, up from N68.357 trillion on Tuesday.
The All-Share Index (ASI) also saw a rise, climbing by 296.72 points, or 0.27 percent, to close at 109,059.33. This upward trend was fueled by robust buying activity in medium- and large-cap stocks, including McNichols Consolidated Plc, Northern Nigeria Flour Mills, Champion Breweries, Caverton Offshore Support Group, and 30 other companies.
The market breadth ended positively, with 34 stocks gaining and 24 losing. Notably, McNichols Consolidated Plc surged by 10 percent to close at N1.76, while Northern Nigeria Flour Mills also rose by 10 percent, finishing at N99.55.
The market breadth ended on a positive note, with 34 stocks gaining and 24 losing.
Among the gainers, McNichols Consolidated Plc saw a 10 percent increase, closing at N1.76, while Northern Nigeria Flour Mills also rose by 10 percent, finishing at N99.55 per share. Champion Breweries climbed by 9.91 percent to settle at N6.10, and Caverton Offshore Support Group gained 9.78 percent, closing at N4.04 per share. FTN Cocoa Processors also performed well, increasing by 9.65 percent to end at N2.50 per share.
On the other hand, Multiverse Mining led the losers, dropping by 9.63 percent to close at N9.85. Legend Internet Plc fell by 5.41 percent, finishing at N8.40 per share. Veritas Kapital Assurance decreased by 4.76 percent to end at N1, while Transcorp declined by 4.65 percent, closing at N44.10 per share. Additionally, Ikeja Hotel lost 3.75 percent, finishing at N12.85 per share.
In total, 531.29 million shares were traded, amounting to N19.81 billion across 14,870 transactions, compared to 498.48 million shares in the previous session.
In comparison, 498.48 million shares valued at N10.781 billion were traded in 14,916 transactions previously. Guaranty Trust Holding Company led the trading activity with 53.27 million shares worth N3.68 billion. Access Corporation came next, with 51.90 million shares valued at N1.11 billion, followed by Fidelity Bank, which transacted 40.55 million shares worth N834.83 million. Nigerian Breweries traded 35.76 million shares valued at N1.94 billion, while Zenith Bank sold 27.35 million shares for N1.32 billion.
