The Nigerian stock market posted strong gains on Wednesday, with investors raking in ₦1.44 trillion amid renewed buying interest in heavyweight stocks led by Nestlé Nigeria.

Market capitalization rose by 1.80%, closing at ₦81.584 trillion, up from ₦80.143 trillion the previous day. The All-Share Index also advanced by 2,277.54 points to end at 128,967.08, compared to Tuesday’s 126,689.54.

Nestlé Nigeria emerged as the top gainer, climbing 10% to close at ₦1,650.00 per share. Other major gainers included Eunisell Interlinked Plc at ₦14.85, Omatek Ventures at ₦1.76, Secure Electronic Technology at ₦1.21, and Tripple Gee at ₦4.32—each recording nearly 10% gains.

Despite the positive market sentiment, the overall market breadth was negative, with 45 stocks declining against 41 gainers. FTN Cocoa Processors and NPF Microfinance Bank led the losers, both shedding 10% to close at ₦7.02 and ₦2.43, respectively. Other notable laggards were C&I Leasing (₦7.13), Champion Breweries (₦12.29), and Academy Press (₦8.33).

Trading activity surged significantly, with a total of 11.67 billion shares valued at ₦363.4 billion exchanged in 36,635 deals. This marked a substantial jump from Monday’s 1.29 million shares worth ₦32.2 billion across 39,437 trades.

FBN Holdings dominated both volume and value, accounting for 10.47 billion shares worth ₦324.5 billion. UBA followed with 157.54 million shares valued at ₦7.62 billion, while Access Corporation recorded 124.6 million shares worth ₦3.27 billion. Universal Insurance (124.1 million shares) and Zenith Bank (66.3 million shares) also saw strong activity.

Analysts attributed the rally to increased investor confidence in blue-chip stocks, noting that the upward momentum could persist if economic indicators remain favorable. The surge reflects growing optimism around equities with solid fundamentals, especially in the banking and consumer goods sectors.