Investors smile as blue-chip stocks and strong earnings reports push the market to record-breaking highs.
The Nigerian equities market on Wednesday surged, adding N1.37 trillion to investors’ wealth in a single day — a historic one-day gain. The All-Share Index jumped 2,128.61 points (1.28%), closing at 168,030.18, while market capitalisation rose from N106.494 trillion to N107.861 trillion.
The bullish trend was led by Berger Paints, RT Briscoe, Daar Communications, and Fortis Global Insurance, each climbing 10%, with First Holding Company up nearly 10%. On the flip side, Red Star Express, Deap Capital, Union Homes REIT, McNicholas, and Etranzact saw losses close to 10%.
Despite the gains, overall market activity slowed, with 694.8 million shares worth N20.6 billion traded across 42,095 deals, slightly below Tuesday’s figures. Chams recorded the highest volume (57.44 million shares), while Seplat led in value (N2.56 billion traded).
Investors remain optimistic as strong corporate earnings and demand for blue-chip stocks continue to fuel market growth.
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