Nigerian stock market gains ₦212 billion on Wednesday as bullish sentiment continues, lifting market capitalisation to ₦76.970 trillion in sustained uptrend

The Nigerian stock market gains continued for a third straight session on Wednesday, adding ₦212 billion in value as investor confidence held firm.

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Market capitalisation rose by 0.28 per cent to ₦76.970 trillion, compared to ₦76.758 trillion on Tuesday. Similarly, the All-Share Index climbed 335.74 points, closing at 121,989.67.

The sustained rally was driven by investor interest in over 60 stocks, notably Omatek, Red Star Express, RT Briscoe, and Cileasing, all of which posted strong gains.

Leading the session was FG20203151, which rose by 12.10 per cent to ₦108.20. Omatek gained 10 per cent to finish at ₦1.21. RT Briscoe and Red Star Express also surged 10 per cent each, closing at ₦3.85 and ₦11.11 respectively. Cileasing matched the 10 per cent jump, ending at ₦7.26.

In contrast, Legend Internet dropped 8.05 per cent to ₦8.00. Guinea Insurance declined by 7.14 per cent to ₦1.04, while Eterna fell by 4.65 per cent to ₦41.00. ETranzact and Regalins recorded respective losses of 4.44 per cent and 4.35 per cent.

Trading activity dipped slightly in volume but remained robust. A total of 888.70 million shares worth ₦15.61 billion were exchanged across 24,303 deals. This was slightly lower than Tuesday’s 1 billion shares valued at ₦19.48 billion in 24,770 deals.

Ja Paul Gold led trading with 137.34 million shares worth ₦410.88 million. Access Corporation followed with 83.04 million shares valued at ₦1.85 billion. AIICO Insurance, Universal Insurance, and Ellah Lakes were also among the top traded equities.

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Market analysts remain cautiously optimistic. “If macroeconomic conditions stay relatively stable, we could see this positive trend extend further into the week,” one investment expert noted.