The Nigerian stock market advanced on Wednesday, gaining 383.7 points to close at 149,842.8, ending the session just shy of the 150,000 mark.
Opening at 149,467.5, the market recorded mild bullish momentum, supported by gains in tier-one banks, with FIRSTHOLDCO up 10% and ACCESS HOLDINGS rising 4%.
Market activity on Customs Street surged, with investors trading 5.9 billion shares, sharply higher than the 912 million shares exchanged in the previous session.
Equity capitalisation mirrored the positive sentiment, climbing above the N95.5 trillion mark across 25,205 deals.
FIRSTHOLDCO and LASACO ASSURANCE led the gainers, both advancing by 10%, while LIVINGTRUST MORTGAGE BANK and INTERNATIONAL ENERGY INSURANCE topped the losers’ chart.
ECOBANK dominated the volume chart, with an impressive 5.2 billion shares changing hands.
Market summary Current ASI: 149,842.82Previous ASI: 149,467.5Day Change: 0.26%Year-to-Date Performance: +45.58%Volume Traded: 5.9 billion sharesMarket Cap: N95.5 trillion.Top 5 gainers FIRSTHOLDCO: Up 10.00% to N39.60LASACO: Up 10.00% to N2.75VERITASKAP: Up 10.00% to N1.76PRESTIGE: Up 10.00% to N1.65MECURE: Up 9.92% to N50.40Top 5 losers LIVINGTRUST: Down 10.00% to N3.15INTENEGINS: Down 9.92% to N2.27MCNICHOLS: Down 6.90% to N2.97OMATEK: Down 6.84% to N1.09CHAMS: Down 6.41% to N2.92Trading volume ECOBANK led activity, topping the chart with 5.2 billion shares to set the session’s pace.FIRSTHOLDCOfollowed with 108.1 million shares, while STERLINGNG ranked third with 87.3 million shares.FCMB andACCESS HOLDINGS completed the top five, trading 74.2 million and 41.5 million shares respectively.Trading value By value, ECOBANK dominated trades worth N168.6 billion.GEREGU followed with N28.5 billion, while FIRSTHOLDCO recorded N4.2 billion.ZENITH BANK posted N2 billion, with VITAFOAM rounding out the top five at N1.5 billion.SWOOTs performance Among stocks valued above N1 trillion, LAFARGE declined by 4.39% during the session.
FUGAZ Within FUGAZ stocks, FIRSTHOLDCO gained 10%, ACCESS HOLDINGS rose 4%, GTCO added 0.45%, and UBA advanced 0.25%.
Market outlook The All-Share Index is edging closer to 150,000 points as bullish sentiment gradually returns to large-cap equities.
If buying interest broadens across mid- and large-cap names, the market could break above 150,000 and target levels beyond 155,000 points.
Izuchukwu Okoye Okoye Izuchukwu is a financial market writer and trader with extensive expertise in both Nigerian and international markets. With a keen eye for market trends and a passion for insightful analysis, he translates complex financial concepts into engaging content. By combining practical trading experience with thorough research, Okoye offers valuable perspectives that empower readers to make informed decisions in the ever-evolving world of finance.
