The Nigerian stock market closed on a bullish note during mid-week trading, extending the previous session’s gains as the NGX All-Share Index (ASI) rose by 0.11%.
Investors engaged in strategic cherry-picking, driving up the share prices of several equities including PREMPAINTS (+9.93%), ETRANZACT (+5.02%), CWG (+4.58%), PZ (+3.42%), GTCO (+3.20%), NB (+2.79%), and MTNN (+2.41%).
Consequently, the benchmark ASI advanced to 200,925.75 points, up from 200,705.88 points on Tuesday. Total market capitalization increased to ₦128.98trn, while the Year-to-Date (YTD) return climbed to 29.12%, reflecting renewed investor confidence in local equities.
Despite the index growth, market breadth closed flat with 32 gainers and 32 decliners. LEGENDINT topped the gainers’ chart, while FIDSON led the decliners.
Notably, LEGENDINT, PREMPAINTS, and JOHNHOLT traded above their 52-week highs, closing at ₦7.26, ₦31.00, and ₦15.70, respectively.
Market activity alsl slowed significantly as total volume traded fell by 58.34% to 537.99m units, valued at ₦25.39bn. WEMABANK recorded the highest volume with 104.33m units, accounting for 19.39% of the day’s trades. MTNN led in value, with trades worth ₦19.39bn representing 29.68% of the total market value.