Investors on the Nigerian Exchange Limited on Wednesday saw a gain of N96 billion, reversing the N68 billion loss from the previous trading session.
This increase was driven by higher share prices of companies such as International Energy Insurance Plc, JohnHolt, and Eunisell.
Consequently, the market capitalization of the exchange grew to N59.03 trillion, marking a 0.16% rise. Similarly, the All Share Index climbed 0.16%, closing at 97,418.83 points.
Sector performance on NGX was generally positive, with the banking, consumer goods, and industrial sectors posting gains of 1.38%, 0.38%, and 0.01%, respectively. However, the insurance sector saw a decline of 0.58%.
Market sentiment remained optimistic, with 30 stocks advancing and 19 declining.
Among the top gainers, International Energy Insurance saw its shares rise by 10% to N1.32, JohnHolt gained 9.98% to close at N6.39, and Eunisell Interlinked increased by 9.88% to N10.90.
Additionally, paper company Thomas Wyatt saw a 9.71% rise, closing at N1.92, while UPL gained 9.09%, finishing at N0.30 per share.
The losers’ chart was led by insurance companies, with Regency Alliance Assurance Plc taking the biggest hit, shedding 10% of its value to close at N0.45. Daar Communication followed, dropping 7.46% to N0.62, while Sovereign Insurance lost 6.35%, finishing at N0.59.
Universal Insurance saw its shares fall by 5.88%, closing at N0.32, and NEM Insurance also declined by 5.88%, settling at N8 per share.
Compared to Tuesday’s trading, activity NGX was relatively subdued, with a decline in deals, volumes, and values by 17.52%, 27.53%, and 16.53%, respectively.
In total, 247.01 million shares were traded across 8,305 transactions, valued at N7.51 billion.
Financial services stocks dominated the top trades, with AccessCorp leading in volume, recording 40 million shares worth N979.6 million across 490 transactions.
United Bank for Africa followed with 23.7 million shares valued at N761.21 million.
Other notable stocks with significant trading activity included Fidelity Bank, United Capital, and Guaranty Trust Holding Company Plc.
