By Bamidele Famoofo
WorldStage– The Nigerian equities market extended its bullish momentum on Wednesday, with the NGX All-Share Index surging 2.27 percent to close at 242,459.98 points, pushing the year-to-date return to +55.81 percent and adding ₦3.45 trillion to market capitalization, which closed at ₦155.59 trillion.
Investor sentiment was positive at a market breadth of 1.5x, as 31 advancers led by Trans Expr, Airtel Africa, Fidelity Bank, Thomas Wy, and Zichis outpaced 21 decliners, with HMCALL, Mcnichols, Transcorp, CWG, and VFD Group recording the most notable losses. Sectoral performance was largely positive across the board, as Oil & Gas (+3.85%), Commodity (+2.54%), Industrial (+1.89%), Banking (+1.07%), and Consumer Goods (+0.57%) all finished in positive territory, while Insurance (-0.20%) weighed on the index.
Trading activity was varied, as volume climbed 5.02 percent to 518.43 million shares, while turnover and deal count declined 18.80 percent and 2.95 percent to ₦22.75 billion and 48,495 transactions respectively. Looking ahead, the market is expected to sustain its recovery momentum, underpinned by ongoing strategic investor repositioning and portfolio rebalancing.
