The Nigerian stock market recorded a strong rally on Wednesday as the All-Share Index (ASI) surged by 1.69 percent to close at 209,317.41 points, up from the previous trading session.
The sharp increase was driven by renewed buying interest in large-cap stocks, particularly within the telecommunications, energy and banking sectors.
Equities market capitalisation rose from approximately ₦131.61 trillion to ₦134.77 trillion, representing a gain of about ₦3.16 trillion in investor wealth, one of the strongest single-day performances in recent sessions.
Market Activity
Trading activity remained robust as investors exchanged a total of 706.39 million shares valued at ₦41.88 billion in 46,231 deals, reflecting sustained liquidity and continued institutional participation.
Top Gainers
Market gains were led by Airtel Africa Plc (AIRTELAFRI), which surged by 10.00 percent from ₦2,497.00 to ₦2,746.70.
Other major advancers include:
- Aradel Holdings Plc (ARADEL): +10.00% to ₦1,406.90
- Ecobank Transnational Incorporated (ETI): +9.98% to ₦55.65
- Trans-Nationwide Express Plc (TRANSEXPR): +9.89% to ₦5.00
- FTN Cocoa Processors Plc (FTGINSURE): +9.82% to ₦1.23
The strong performance of Airtel Africa Plc and Aradel Holdings Plc significantly influenced the overall market direction due to their large market weights.
Top Losers
On the downside, Austin Laz & Company Plc (AUSTINLAZ) led the losers’ chart, shedding 9.77 percent to close at ₦3.60.
Other decliners include:
- John Holt Plc (JOHNHOLT): -9.72% to ₦13.00
- CWG Plc: -7.22% to ₦21.20
- Conoil Plc: -6.80% to ₦190.50
- Omatek Ventures Plc: -5.48% to ₦2.07
Top Trades
Trading activity was led by Zenith Bank Plc with 73.29 million shares valued at ₦8.78 billion.
Other actively traded stocks include:
- Tantalizers Plc: ₦220.35 million
- United Bank for Africa Plc (UBA): ₦2.29 billion
- Access Holdings Plc: ₦1.00 billion
- NSL Tech Plc: ₦31.72 million
Fixed Income and ETF Market
The bond market recorded mild activity, with FG202029S5 gaining 3.30 percent, while other instruments remained largely unchanged.
The ETF segment posted mixed performance. SIAMLETF40 gained ₦1,088.89, while VSPBONDETF rose by ₦20.00 and VETINDETF added ₦1.95. However, VETGRIF30 and VETGOODS closed flat, indicating balanced sentiment across ETF instruments.
Market Outlook
The strong rally reflects sustained investor confidence and continued institutional positioning in large-cap stocks.
However, the presence of notable losers despite the broad market gain reinforces the ongoing trend of selective buying, where capital is concentrated in fundamentally strong and high-impact equities.
Going forward, the market is expected to maintain its upward bias, supported by liquidity and momentum in large-cap stocks, although intermittent profit-taking may introduce short-term volatility.