On Wednesday, investors on the Nigerian Exchange Limited experienced a positive turn in the market, gaining a total of N96 billion by the end of trading. This was a welcome change after the previous trading session, where the market had lost N68 billion.
The increase in the market value was largely driven by the rising share prices of several companies, including International Energy Insurance Plc, JohnHolt, and Eunisell. As a result, the overall market capitalization—the total value of all shares listed on the exchange—rose to N59.03 trillion, marking a slight increase of 0.16 percent.
The All Share Index, which is a key indicator of market performance, also reflected this positive trend, climbing by 0.16 percent to reach 97,418.83 points.
Looking at different sectors of the market, most performed well. The banking sector saw an increase of 1.38 percent, the consumer goods sector rose by 0.38 percent, and the industrial sector had a minimal increase of 0.01 percent. However, the insurance sector faced a decline, dropping by 0.58 percent.
Investor sentiment was largely optimistic, with 30 stocks rising in value while 19 stocks fell. Notably, shares of International Energy Insurance surged by 10 percent to N1.32, while JohnHolt saw a nearly 10 percent increase, closing at N6.39. Eunisell Interlinked’s shares rose by about 9.88 percent to N10.90, and the paper company Thomas Wyatt experienced a 9.71 percent increase, closing the day at N1.92. UPL also saw a gain of 9.09 percent, bringing its share price to N0.30.
On the flip side, the losers’ chart was mainly populated by insurance companies. Regency Alliance Assurance Plc saw its shares drop by 10 percent to N0.45. Daar Communication’s shares fell by 7.46 percent to N0.62, and Sovereign Insurance lost 6.35 percent, closing at N0.59. Universal Insurance and NEM Insurance both declined by 5.88 percent, ending the day at N0.32 and N8 per share, respectively.
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In terms of trading activity, Wednesday was less active compared to Tuesday. The number of deals, the volume of shares traded, and the overall value of trades decreased by 17.52 percent, 27.53 percent, and 16.53 percent, respectively. In total, 247.01 million shares changed hands over 8,305 transactions, amounting to N7.51 billion.
The financial services sector was particularly active, with AccessCorp leading in trading volume, with 40 million shares valued at N979.6 million traded across 490 transactions. United Bank for Africa also had significant activity, with nearly 24 million shares worth N761.21 million traded. Other banks like Fidelity Bank, United Capital, and Guaranty Trust Holding Company Plc also saw strong interest in their shares.
Additionally, newly listed company Aradel topped the traded value chart, with over 3.3 million of its shares exchanged for a total of N1.68 billion across 810 deals.
In contrast, the market had closed on a down note the previous Tuesday, primarily due to declines in the shares of several companies, including VFD Group, which fell by 10 percent, Oando Plc, which dropped by 9.42 percent, and Dangote Sugar, which saw a decline of 4.83 percent.
