The Nigerian Exchange Limited (NGX) closed Wednesday’s trading session on a relatively flat note, gaining N67 billion in market capitalisation, as investors reacted cautiously to mixed corporate earnings and profit-taking in some sectors.
At the end of trading, the All-Share Index (ASI) inched up by 105.70 points, representing a marginal 0.08% gain, to settle at 132,557.43 points. Consequently, the market capitalisation increased from N83.83 trillion to N83.9 trillion, reflecting sustained investor confidence despite reduced trading activity.
Market activity dipped significantly, with total traded volume dropping by 12% to 681.2 million units, while turnover fell by 36% to N17.02 billion. The number of deals executed also declined by 18%, closing at 26,931 transactions.
A total of 128 equities participated in the day’s trading, with 29 gainers, 37 losers, and 62 unchanged stocks.
Top Gainers:
Academy Press Plc led the chart with a 10% increase, closing at N7.70 per share.
The Initiates Plc followed with a 9.98% rise to N13.34.
Ikeja Hotel, Nigerian Enamelware, and NAHCO recorded impressive gains of 9.95%, 9.84%, and 9.65%, respectively.
Top Losers:
Austin Laz & Company topped the losers’ table with a 10% decline to N2.34.
Tripple Gee & Co., Omatek Ventures, Daar Communications, and Multiverse Mining also witnessed losses between 9.95% and 9.09%.
In terms of volume, Access Holdings Plc emerged as the most traded stock, exchanging 98.6 million units valued at N2.74 billion. Other top-volume stocks included:
Ellah Lakes (61.1m shares, N581.6m)
Japaul Gold (49.2m shares)
Royal Exchange (43.8m shares)
Universal Insurance (32.1m shares)
For value traded, Dangote Cement followed Access Holdings with N1.3 billion worth of trades from 2.7 million shares. Aradel Holdings, GTCO, and WAPCO rounded out the top five, with trades valued at N1.23bn, N1.14bn, and N1.03bn, respectively.
Sector indices reflected a largely positive sentiment despite the overall flat close:
Banking Index: +0.44%
Consumer Goods Index: +0.30%
Pension Index: +0.24%
Oil & Gas Index: +0.21%
Insurance Index: +0.13%
The Top 30 Index also advanced by 0.08%, mirroring the broader market’s marginal gain.
Year-to-date, the ASI has appreciated by 28.79%, indicating sustained investor confidence, even as intermittent profit-taking continues to shape market dynamics.
Analysts say the flat close reflects mixed investor sentiment following Tuesday’s strong rally, when the NGX recorded a N396bn gain in market capitalisation driven by renewed interest in banking and industrial stocks.
Financial experts attribute the cautious trading to ongoing corporate earnings reports and uncertainties around global oil prices, which often influence investor sentiment in Nigeria’s equities market.
A Lagos-based capital market analyst, Tunde Bakare, noted:
“Despite the reduced trading volume, the market remains fundamentally strong, supported by robust earnings in the banking and industrial sectors. Investors are likely to maintain a selective buying strategy in the coming sessions.”
Another analyst, Kemi Olayemi of FSDH Securities, projected that the market could witness modest gains in the coming week as bargain-hunters take positions in undervalued blue-chip stocks.