The Nigerian stock market rose modestly as investors targeted large-cap and banking stocks, with mixed performance across gainers and losers
The Nigerian stock market closed Wednesday on a mildly positive note, extending its pattern of subdued price movement.
The All-Share Index (ASI) rose 10.8 points to settle at 166,267.6, marking the fourth consecutive session of limited gains.
Market activity showed signs of improvement, with trading volume rising to 822 million shares across 43,548 deals, up from 795 million shares in the previous session.
Despite the uptick in activity, overall market capitalisation remained steady at N106.4 trillion.
Stanbic IBTC and Zenith Bank led in value, each recording approximately N2.7 billion in trades, reflecting sustained interest in large-cap banking stocks.
Top gainers included McNichols, RT Briscoe, and NCR, each posting maximum daily increases of 10%, while UPDC REIT and Champion led the losers with declines of 9.68% and 9.31%, respectively.
Volume was driven by ZICHIS Agro Allied with 69.2 million shares traded, followed by NSLTECH (54.7 million) and Access Holdings (40.1 million).
Nigerian Breweries, GTCO, and Aradel also featured prominently in transaction value rankings.
Performance among heavyweight stocks was mixed.
International Breweries and Lafarge advanced modestly, while Aradel and Nigerian Breweries slipped.
Among major banking stocks, Zenith Bank and First HoldCo closed flat, Access Holdings gained slightly, and UBA and GTCO posted minor declines.
Analysts said the session highlights cautious investor behaviour, with selective accumulation in perceived value stocks and profit-taking in others.
The ASI’s limited movement indicates investors are reassessing entry points amid stretched valuations, though support from large-cap names could sustain moderate rallies in the near term.
