…As ASI climbs 0.70%
…Guinness, Meyer lead gainers
The Nigerian stock market maintained its bullish momentum on Wednesday, as key performance indicators recorded further growth, buoyed by sustained investor appetite and strategic bargain positioning.
The All-Share Index (ASI) advanced by 1,017.49 points or 0.70 per cent to close at 145,813.86, compared to the previous day’s 144,796.37. This upward trajectory was driven by renewed interest in medium and large-cap stocks, with notable gains recorded by Meyer Plc, Guinness Nigeria, Learn Africa, AXA Mansard, Mutual Benefits Assurance and 49 other listed equities.
Market breadth remained robust, with 54 stocks appreciating in value against 26 that posted losses, reflecting overall positive investor sentiment.
Guinness Nigeria led the pack of advancers, appreciating by 10 per cent to settle at N128.75 per share. Meyer Plc mirrored that performance, also rising by 10 per cent to close at N18.15. Learn Africa climbed by the same margin to N6.27, while AXA Mansard ended trading at N12.10 per share, up by 10 per cent. Mutual Benefits Assurance similarly gained 10 per cent to finish at N2.42 per share.
Losses were, however, recorded in several counters. UAC of Nigeria dropped by 10 per cent, ending the session at N90. UH Real Estate Investment Trust also declined by 10 per cent, closing at N57.60 per share. NGX Group shed 10 per cent to finish at N63, while Livingtrust Mortgage Bank fell by 9.93 per cent to N5.35 per share. Multiverse Mining lost 9.68 per cent, concluding the day at N9.80 per share.
Trading volume and value witnessed a notable surge. A total of 2.69 billion shares worth N32.63 billion were exchanged in 35,137 deals, compared to 1.03 billion shares valued at N22.9 billion traded in 38,932 transactions on Tuesday.
Consolidated Hallmark Holdings Plc dominated the activity chart, recording 1.02 billion shares worth N2.67 billion. Linkage Assurance followed with 562.32 million shares valued at N978.4 million. Sterling Nigeria traded 183.77 million shares worth N1.49 billion.
AIICO Insurance also featured prominently, exchanging 90.7 million shares valued at N262.98 million, while Zenith Bank transacted 60.35 million shares with a market value of N4.55 billion.