The Nigerian stock market sustained its bullish momentum on Wednesday as the Nigerian Exchange Limited (NGX) All-Share Index (ASI) crossed the 139,000-point threshold to close at 139,278.67 points.
Market capitalisation rose to ₦88.05 trillion from ₦87.22 trillion in the previous session, representing a 0.99 percent increase.
The market’s year-to-date (YtD) return advanced to 35.32 percent, underscoring strong investor appetite despite profit-taking in the insurance and oil and gas sectors.
Market Performance
Berger Paints led the gainers’ chart with ₦3.40 or 9.97 percent gain to close at ₦37.50, up from ₦34.10. Dangote Sugar followed with a ₦6.45 increase to settle at ₦71.15 per share, up 9.97 percent from ₦64.70.
Multiverse Mining and Exploration also posted a strong performance, gaining 90 kobo or 10 percent to close at ₦9.90 while Royal Exchange appreciated by 14 kobo or 10 percent to finish at ₦1.54.
Despite selling pressure on select insurance and oil and gas counters, buying activity in blue-chip stocks drove the overall market higher.
Trading Highlights
At the close of trading, investors exchanged 922,031,413 shares valued at ₦35.40 billion in 36,423 deals. Fidelity Bank, Access Holdings, UACN, Universal Insurance, and FCMB Group were among the most actively traded stocks, reflecting sustained demand in the financial services sector.
Outlook
Analysts note that the sustained rally is supported by improved liquidity and continued interest in high-performing stocks such as Dangote Sugar and Berger Paints.
The NGX’s strong YtD return of 35.32 percent signals resilience in the equities market, with expectations of further gains if current investor sentiment holds.