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, Zenith Bank, 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 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.