The Nigerian Exchange Limited (NGX) experienced a positive turnaround on Wednesday, as investors gained N96 billion, reversing the N68 billion loss from the previous session. The market capitalization reached N59.03 trillion, reflecting a 0.16% increase, while the All Share Index rose by 0.16% to 97,418.83 points.
Key players in the market’s recovery included International Energy Insurance Plc, JohnHolt, and Eunisell, which saw significant share price increases. Sector performance was largely positive, with the banking, consumer goods, and industrial sectors posting gains of 1.38%, 0.38%, and 0.01%, respectively. However, the insurance sector saw a decline of 0.58%.
Despite the positive market sentiment, the overall trading activity was subdued compared to the previous day, with a decrease in deals, volumes, and values by 17.52%, 27.53%, and 16.53%, respectively. A total of 247.01 million shares were exchanged across 8,305 transactions, amounting to N7.51 billion.
On the gainers’ chart, International Energy Insurance led with a 10% rise to N1.32, followed by JohnHolt and Eunisell with 9.98% and 9.88% increases. Conversely, the losers’ chart was dominated by insurance firms, with Regency Alliance Assurance dropping 10% to N0.45 and Daar Communication losing 7.46% to N0.62.
Aradel, a newly listed company, emerged as the leader in traded value with shares worth N1.68 billion. Overall, the stock market’s positive performance came despite mixed trading conditions.
