Nigerian Equities Market Gains N861 Billion on Wednesday

On Wednesday, the Nigerian equities market demonstrated a bullish trend, gaining N861 billion. The market capitalization rose by 0.61%, closing at N141.384 trillion, up from N140.523 trillion the previous day.

The NGX share index appreciated by 1,336.39 basis points, reaching 219,586.20 points, compared to 218,249.81 points recorded on Tuesday. The market showed positive breadth with 31 advancers against 27 decliners, contributing to a year-to-date return of 41.11%.

However, trading volume declined to 121.228 million shares, representing a 15.06% decrease, with a total transaction value of N36.167 billion across 51,694 deals, down by 15.65%. Five companies, including Cap Plc and Vitafoam Nigeria, closed with a 10% gain, while Neimeth International Pharmaceuticals led the losers, dropping 10% to N9.00 per unit.

FirstHoldCo led market activity with 76.643 million shares valued at N5.782 billion, followed by Bank Africa and Access Holdings.