The Nigerian stock market gains 56bps on Wednesday
The Nigerian stock market experienced an increase of 56 basis points during today’s trading session, concluding at 98,230.92 points. The overall positive performance of the market was primarily driven by sustained interest in GEREGU (+9.52%) and FBNH (+6.27%), along with renewed interest in OANDO (+6.05%).
This upward momentum outweighed the selloffs observed in MTNN (-0.10%), GTCO (-1.07%), and UBA (-1.03%). Consequently, the year-to-date return of the All-Share Index (ASI) rose to 31.37%, and the market capitalization increased by ₦316.14 billion today.
An analysis of today’s market activities revealed that trade turnover was lower compared to the previous session, with transaction values decreasing by 19.49%. A total of 361.30 million shares, valued at ₦7.57 billion, were traded across 9,627 transactions. JAPAULGOLD (-1.16) led the volume chart for the third consecutive time, with 64.04 million units exchanged, while GEREGU topped the value chart with transactions amounting to ₦1.34 billion.
The market breadth concluded positively, with a ratio of 1.04-to-1, indicating that advancing stocks outnumbered those that declined. HONYFLOUR (+9.96%) emerged at the top of the leader’s list, surpassing twenty-five other stocks, while NNFM (-10.00%) led the laggards, falling behind twenty-four others.
