Equities rally as ASI jumps 2.88%

By Sofiyyah Layole

The Nigerian Exchange (NGX) closed Wednesday’s trading session on a bullish note, with the benchmark All-Share Index (ASI) surging by 2.88 percent to settle at 145,403.83 points. 

The sharp uptick reflects renewed investor optimism, supported by strong performances in the banking and insurance sectors.

Equity market capitalization rose to ₦95.32 trillion, marking a notable increase from the previous session. 

The Exchange Traded Products (ETPs) market also advanced, gaining 1.39 percent to close at ₦33.19 billion, while the fixed income market recorded a marginal decline, closing at ₦52.58 trillion.

Trading activity remained vibrant, with investors positioning ahead of anticipated corporate earnings and macroeconomic policy cues.

The top gainers for the day included Access Holdings, which rose by 10 percent to close at ₦22.00, and Ecobank, also gaining 10 percent to settle at ₦34.65. 

GTCO matched the trend with a 10 percent increase, ending the session at ₦85.80, while AXA Mansard advanced by 10 percent to ₦13.31. 

Nigerian Breweries rounded out the list with a 10 percent gain, closing at ₦66.00. The uniform growth across these leading stocks reflects strong investor appetite for financial and consumer goods equities.