The Nigerian Exchange (NGX) closed higher on Wednesday as strong buying interest in financial services stocks, led by Ecobank Transnational Incorporated (ETI), lifted market capitalization and trading value despite mixed sectoral performances.
The NGX All-Share Index (ASI) rose by 0.26% to close at 149,842.82 points, reflecting renewed institutional activity and large-volume transactions in banking stocks. Equity market capitalization increased to ₦95.53 trillion at the close of the session.
Market Activity Overview
Trading activity surged sharply, driven by significant block trades in ETI. A total of 5.93 billion shares were exchanged, valued at ₦216.19 billion, across 25,205 deals.
The bond market capitalization stood at ₦51.56 trillion, while exchange-traded funds (ETFs) closed with a total market value of ₦44.13 billion.
Top Gainers
Insurance and financial services stocks dominated the gainers’ table:
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First HoldCo Plc gained 10.00% to close at ₦39.60.
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Lasaco Assurance Plc advanced 10.00% to ₦2.75.
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Veritas Kapital Assurance Plc rose 10.00% to ₦1.76.
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Prestige Assurance Plc appreciated 10.00% to ₦1.65.
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Mecure Industries Plc increased 9.92% to close at ₦50.40.
Top Losers
Losses were recorded mainly in insurance and technology-linked stocks:
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LivingTrust Mortgage Bank Plc declined 10.00% to ₦3.15.
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International Energy Insurance Plc fell 9.92% to ₦2.27.
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McNichols Plc dropped 6.90% to ₦2.97.
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Omatek Ventures Plc shed 6.84% to ₦1.09.
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Chams Holding Company Plc declined 6.41% to ₦2.92.
Most Actively Traded Stocks (By Volume)
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Ecobank Transnational Incorporated (ETI) dominated activity with 5.25 billion shares traded, valued at ₦168.66 billion, accounting for the bulk of market turnover.
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First HoldCo Plc followed with 108.15 million shares worth ₦4.21 billion.
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Sterling Financial Holdings Plc recorded 87.31 million shares valued at ₦606.16 million.
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FCMB Group Plc traded 74.28 million shares worth ₦783.56 million.
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Access Holdings Plc posted 41.51 million shares, valued at ₦841.36 million.
Bonds Market
The fixed-income segment closed mixed, with notable price appreciation in select Federal Government bonds:
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FGN 2037 Series 2 rose sharply to ₦130.00.
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FGN 2031 Series 1 closed at ₦105.74.
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FGN 2053 Series 3 settled at ₦106.09.
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FGN 2033 Series 6 advanced to ₦112.67.
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FGN 2032 Series 11 closed flat at ₦100.00.
ETF Market Performance
ETFs recorded mixed movements:
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SIAML ETF 40 gained ₦102.49 to close at ₦1,127.47.
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Vetiva Griffin 30 ETF edged up to ₦54.01.
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Vetiva Banking ETF, Green ETF, and Vetiva Industrial ETF all closed flat.
Market Outlook
The sharp rise in trading value underscores strong institutional participation, particularly in the banking sector. While the broader market advance remained modest, sustained liquidity flows and positioning in financial stocks suggest continued selective accumulation ahead of year-end portfolio rebalancing.