NGX market cap rises by N598bn as consumer and tech stocks lead equities rally, reflecting renewed investor confidence despite slower trading

The Nigerian Exchange Limited (NGX) recorded a strong trading session on Wednesday as investor optimism returned to the equities market, lifting total market capitalisation by N598 billion to close at N106.78 trillion.

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The increase, a 0.56 per cent gain over the previous session, underscores growing confidence among investors despite a slowdown in overall trading activity.

A total of 752.4 million shares changed hands in 55,739 deals, generating a turnover of N29.62 billion.

This represents a 33 per cent decline in volume and a 12 per cent drop in turnover compared with Tuesday, although the number of deals rose by 13 per cent, indicating sustained interest in select equities.

Trading was broad-based, with 131 equities participating. Forty-seven stocks recorded gains, led by Academy Press, which surged 10 per cent to close at N8.25 per share.

NCR Nigeria followed with a 9.98 per cent increase, Tripple Gee and Co rose 9.95 per cent, and Tantalizers gained 9.93 per cent.

Twenty-eight stocks ended the session lower, led by May and Baker Nigeria, which fell 9.79 per cent to N28.55 per share.

Coronation Insurance, Livestock Feeds, and PZ Cussons also recorded declines.

Access Holdings recorded the highest trading volume, with 53.41 million shares exchanging hands for a total value of N1.24 billion.

Lasaco Assurance followed with 39 million shares traded for N100.2 million, while Veritas Kapital Assurance and Tantalizers accounted for 32.79 million and 30.13 million shares, respectively.

On the value side, Aradel led with N8.99 billion from 11.33 million shares traded, followed by Seplat with N4.02 billion, MTN Nigeria with N1.64 billion, and Zenith Bank with N1.25 billion.

Market analysts attributed the session’s gains to bargain-hunting and renewed confidence in select blue-chip stocks, particularly in the consumer and technology sectors.

Analysts noted that while market capitalisation rose significantly, the decline in volume and turnover highlights a cautious approach among investors, with smaller traders selectively targeting stable-return equities.

Consumer-focused companies were among the top beneficiaries, with Academy Press, Tripple Gee, and Tantalizers leading the rally.

Financial and insurance stocks, however, experienced mixed performance, as May and Baker, Wapic, and Livestock Feeds lagged behind, reflecting sector-specific pressures despite the overall market gains.

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NGX extended its bullish trend on Tuesday, as sustained buying in key stocks lifted total market capitalisation by N1.66 trillion, reinforcing positive investor sentiment in the equities market.