Lagos: The equities market staged a strong rebound on Wednesday, erasing the previous session’s loss with a remarkable N628 billion gain.
This positive shift was driven by renewed investors’ interest in blue-chip and medium-cap stocks.
Among the key gainers were Airtel Africa, Chemical and Allied Products Plc (CAP), Zichis Agro Allied Industries, RT Briscoe Plc, and FTN Cocoa Processors Plc, joining 43 other advancing equities.
As a result, market capitalisation rose by N628 billion, or 0.40 per cent, to close at N155.780 trillion from N155.152 trillion recorded at the opening of trading.
Furthermore, the All-Share Index (ASI) advanced by 979.36 points, or 0.40 per cent, closing at 242,729.51—up from the 241,750.15 posted on Tuesday, reflecting the market’s overall upward movement.
Following these gains, the market’s year-to-date return consequently increased to 55.98 per cent.
Market breadth also closed positive, with 48 gainers against 23 losers, underlining improved investor sentiment.
Airtel Africa led the gainers’ table, rising 10 per cent to close at N3,323.40 per share.
Following CAP’s 9.99 per cent gain to N193.20, Zichis Agro Allied Industries appreciated by 9.97 per cent and settled at N27.58 per share.
Also, RT Briscoe rose by 9.95 per cent to close at N14.15, while FTN Cocoa Processors gained 9.92 per cent to end the session at N7.31 per share.
On the other hand, on the losers’ chart, Sunu Assurances Nigeria Plc declined by 10 per cent to close at N4.05 per share.
Meanwhile, Guinness Nigeria Plc shed 9.99 per cent, closing at N402.60. Caverton Offshore Support Group Plc dropped by 8.33 per cent, settling at N5.50 per share.
Fortis Global Insurance Plc lost 7.69 per cent to close at N1.08, while May and Baker Nigeria Plc fell by 6.82 per cent to end at N41 per share.
In addition to price movements, trading activity improved at the close of the session, with total volume traded rising by 11.57 per cent to 1.41 billion shares valued at N59.43 billion across 85,804 transactions.
Meanwhile, Computer Warehouse Group Plc (CWG) emerged as the most traded stock by both volume and value, with 421.70 million shares exchanged at N8.85 per share.
Transactions constituted 29.80 per cent of the market’s total trading volume. Meanwhile, they represented 14.90 per cent of its total trading value.