Lagos: The Nigerian stock market ended on a positive note on Wednesday, with an impressive gain of N1.185 trillion in market value. The market capitalisation increased by 1.57% to reach N76.761 trillion, up from N75.576 trillion recorded the previous day. The All-Share Index (ASI) also saw an upward movement, rising by 1,466.87 points, or 1.22%, to settle at 121,257.69 from its prior close of 119,790.82.
According to News Agency of Nigeria, the positive trend was driven by significant buying interest in medium and large-cap stocks such as Dangote Sugar, Oando, Cileasing, Champion Breweries, and 59 other stocks. The market breadth ended on a positive note, with 63 stocks advancing and 17 declining. On the gainers’ chart, Dangote Sugar and Oando Plc both increased by 10%, closing at N48.40 and N68.75 per share, respectively. Cileasing and Champion Breweries each rose by 9.98%, finishing at N5.18 and N10.91 per share. Additionally, Computer Warehouse Group gained 9.95%, closing at N11.60 per share.
Conversely, University Press experienced a decline of 6.25%, ending at N6 per share, while RT Briscoe fell by 6.12%, closing at N2.30 per share. Multiverse Mining decreased by 4.89%, settling at N8.75, and Meyer dropped by 4.69%, ending the session at N9.15 per share. Computer Warehouse Group also saw a loss of 4.15%, closing at N3 per share.
A total of 861.67 million shares worth N26.18 billion were traded across 22,896 transactions. This compares to the 868.68 million shares worth N23.71 billion that were traded across 22,207 transactions previously. Fidelity Bank led the activity chart with 82.98 million shares worth N1.66 billion changing hands. Caverton Offshore Support Group followed, with 64.18 million shares valued at N319.69 million, while Zenith Bank recorded transactions of 60.62 million shares worth N3.45 billion. Ja Paul Gold traded 56.26 million shares valued at N115.35 million, and Access Corporation sold 48.59 million shares worth N1.12 billion.