Nigerian Stock Market Gains N600bn, Led by GTCO and Zenith

On Wednesday, the Nigerian stock market continued its growth trend, appreciating by N600 billion. The market capitalization increased by 0.46%, reaching N29.809 trillion, while the NGX share index rose by 415.75 basis points to close at 201703.55 points.

Key contributors to this rally included GTCO PLC (NGX: GTCO), Zenith Bank (NGX: ZENITHBANK), AccessCorp, and PZ, among others. The market experienced a negative breadth with 22 advances and 41 declines, bringing the year-to-date return to 29.62%.

Notable gainers included Updeit, which rose by 10% to close at N7.70 per unit, and RT Brisco, which gained 8.81% to close at N10.50 per share. Conversely, Omatek and Nestle Nigeria PLC (NGX: NESTLE) were among the top losers, with Omatek dropping 10% to close at N1.98 and Nestle Nigeria PLC declining by 9.97% to close at N3055.50.