A total of thirty-nine companies listed on Nigeria’s stock exchange have energized the market, contributing to a considerable increase of N863 billion on Wednesday.
The Nigerian Exchange Limited (NGX) saw its market capitalization rise by 0.99 percent on the same day, closing at N88.054 trillion, up from N87.191 trillion the previous day.
Additionally, the All-Share Index (ASI) experienced a substantial uptick of 1,365.80 points, equivalent to a 0.99 percent increase, concluding at 139,278.67.
This positive movement is predominantly influenced by the performance of stocks such as Multiverse Mining, Royal Exchange, Berger Paints, Dangote Sugar, along with 35 other enterprises.
Consequently, market breadth was favorable, registering 39 gainers against 32 decliners.
Leading the gainers, Multiverse Mining surged by 10 percent, closing at N9.90, while Royal Exchange also rose by 10 percent, finishing at N1.54 per share.
Other notable gainers included NPF Microfinance Bank, Berger Paints, and Dangote Sugar stocks, among others.
On the downside, Abbey Mortgage Bank fell by 10 percent to N6.48, with FTN Cocoa Processors also decreasing by 10 percent to close at N6.30 per share, along with other stocks in decline.
At the end of trading on Wednesday, a total of 922.03 million shares valued at N35.39 billion were exchanged over 36,423 transactions, in contrast to the 940.80 million shares worth N30.63 billion traded across 28,358 transactions on Tuesday.
Notably, Fidelity Bank led the trading activity with 90.39 million shares valued at N1.89 billion, followed closely by Access Corporation.
The local stock market has maintained a bullish trend since last week, a growth attributed to the distribution of interim dividends within Nigeria’s bourse.
