The Nigerian Exchange (NGX) Limited rallied by 3.77 per cent on Wednesday, pushing the year-to-date return above 50 per cent to 52.43 per cent. The All-Share Index rose by 8,465.40 points to 237,205.59 points, while market capitalisation increased by N5.45 trillion to N152.728 trillion. The industrial goods index led gains with 6.14 per cent, followed by energy (4.54 per cent), banking (1.92 per cent), and consumer goods (1.01 per cent). UAC Nigeria, Zichis, CAP, and Airtel Africa each gained 10 per cent. Trading volume rose 43.17 per cent to 1.3 billion shares valued at N69.1 billion.
Key Points
- Investors in Nigerian stocks have seen returns exceed 52 per cent so far this year.
- Market capitalisation gain of N5.45 trillion in a single day boosts shareholder wealth.
- Only the insurance sector closed in the red, shedding 1.01 per cent.
- Access Holdings and UBA were the most traded stocks by volume and value.
- Sustained bargain-hunting in equities with sound fundamentals drove the rally.
Watch whether the bullish run continues through the week and which sectors lead the next phase of gains.
Sources: Business Post
