The Nigerian Exchange (NGX) All-Share Index (ASI) concluded Wednesday’s trading session in positive territory, appreciating by 21 basis points as the market integrated significant new listings from FCMB Group Plc and VFD Group.
While broader performance indicators presented mixed outcomes, the total market capitalization experienced a notable increase of 0.46%, driven by the substantial influx of new ordinary shares.
The market index gained 415.77 basis points, representing a 0.21% increase to settle at 201,703.55, while the total market capitalization rose by ₦599.41 billion to close at ₦129.81 trillion.
This growth was primarily catalyzed by the supplementary listing of 5,067,396,400 ordinary shares from VFD Group and 23,182,887,000 ordinary shares from FCMB Group Plc, the latter resulting from a public offer priced at ₦10.00 per share.
Despite the upward movement of the index, market breadth closed on a negative note, with 21 gainers outweighed by 41 losers.
Trading volume contracted by 4.67%, although the total value of transactions saw a robust surge of 23.15%.
In terms of individual stock performance, International Energy Insurance (INTENEGINS) led the advancers with a 9.91% gain, followed by RTBRISCOE at 8.81%, ZENITHBANK at 7.52%, and GTCO at 7.37%.
Conversely, OMATEK and NESTLE recorded the steepest declines, each shedding 10.00% of their value, with FTNCOCOA and CHAMS also appearing among the top laggards.
Sectoral performance remained largely positive, as the Banking sector surged by 3.21%, supported by minor gains in the Insurance and Industrial Goods sectors, while the Consumer Goods and Oil & Gas sectors faced marginal declines.