The Nigerian stock market closed in positive territory on Wednesday, with key performance indicators advancing by 0.08 per cent, driven by renewed buying interest and bargain hunting.
Market capitalisation added N67 billion to close at N83.856 trillion, compared with Tuesday’s N83.789 trillion. Similarly, the All-Share Index (ASI) gained 105.70 points to settle at 132,557.43.
The upturn was powered by demand for medium and large-cap stocks, including Academy Press, The Initiates Plc, Ikeja Hotel and 27 others.
Despite the gain in indices, market breadth ended negative as 37 equities closed lower against 30 gainers.
On the losers’ table, Austin Laz and Company shed 10 per cent to finish at N2.34, while Tripple Gee dropped 9.95 per cent to N3.89 per share. Omatek lost 9.72 per cent to N1.30, DAAR Communications fell 9.64 per cent to 75k, and Guinea Insurance dipped 9.09 per cent to close at 90k per share.
On the gainers’ side, FG192038S2 climbed 16.87 per cent to N97.00, Academy Press appreciated 10 per cent to N7.70, The Initiates Plc advanced 9.98 per cent to N13.34, Ikeja Hotel rose 9.95 per cent to N21.00 and Nigerian Enamelware surged 9.84 per cent to N24.55 per share.
Trading activity saw 681.24 million shares worth N17.02 billion exchanged in 26,931 deals, compared with Tuesday’s 771.65 million shares valued at N26.78 billion traded in 32,734 transactions.
Access Corporation led the activity chart with 98.62 million shares worth N2.74 billion. Ellah Lakes followed with 61.12 million shares valued at N581.61 million, while Ja Paul Gold exchanged 49.16 million shares worth N136.75 million.
Royal Exchange traded 43.75 million shares valued at N53.61 million, and Universal Insurance recorded 32.07 million shares worth N23.39 million.
