The Nigerian equities market closed trading on Wednesday with a significant gain of N568 billion in market capitalization, largely propelled by strong performances from key stocks like FTN Cocoa, Livestock Feed Plc, and Eterna Plc.
This surge pushed the benchmark All-Share Index (ASI) up to 145,719.09 points from the previous day’s close of 144,995.26 points.
Consequently, the total market capitalization advanced to N92.4 trillion, up from N91.9 trillion on Tuesday.
Trading for the day concluded on a positive note, with a majority of stocks advancing, specifically 29 stocks gaining against 34 stocks declining, and 84 remaining unchanged across 25,597 deals.
FTN Cocoa led the impressive gains, appreciating by 8.89 per cent to close at N6.00 per share. It was closely followed by Livestock Feed Plc and Eterna Plc, which rose by 7.43 per cent and 6.96 per cent, closing at N7.95 and N41.50 per share, respectively. Conversely, Industrial and Medical Gases, LivingTrust Mortgage Bank, and Sunu Assurance Plc were the top decliners, shedding between 9.48 per cent and 9.97 per cent.
On the activity front, Consolidated Hallmark Plc dominated the volume chart with 83 million shares traded. Meanwhile, in terms of value, Guaranty Trust Holding Co (GTCO) led the market with transactions worth N1.7 billion, followed by Lafarge WAPCO and Aradel Holding Plc, both recording transactions valued at N1.3 billion each.
The day’s positive momentum suggests renewed investor confidence as major stocks continue to deliver strong returns amidst increasing market activity.