NGX Ends Wednesday on Positive Note as ASI Rises 0.78% Despite Lower Turnover

The Nigerian Stock Exchange (NGX) closed Wednesday’s trading session with a mixed performance as the benchmark NGX All-Share Index (ASI) rose by 0.78% to 178,184.36 points, marking a year-to-date gain of 14.5%.

Market activity, however, showed a decline compared to Tuesday’s session, with total traded volume dropping 11% to 939 million shares across 61,170 deals. Turnover also fell by 30% to ₦34.0 billion, although the number of deals improved slightly by 4%. The exchange’s total market capitalization currently stands at ₦114.4 trillion.

A total of 133 listed equities saw trading, with 49 gainers and 31 losers. Nestle Nigeria led the gainers with a 10% jump to ₦2,420 per share, followed closely by Meyer, Consolidated Hallmark Holdings, and Fortis Global Insurance, each gaining 10%. On the downside, Honeywell Flour Mill topped the losers’ list with a 9.7% drop to ₦22.80 per share, with Neimeth International Pharma (-9.15%), The Initiates (-5.81%), and RT Briscoe (-5.7%) also recording losses.

In terms of trading volume, Tantalizers led the market with 85.3 million shares exchanged, followed by Access Holdings (61.4 million), Chams (38.6 million), and Japaul Gold and Ventures (38.2 million).

Other NGX indices recorded notable gains:

• Top 30 Index: +0.81% (13.54% YTD)
• Banking Index: +1.58% (14.58% YTD)
• Insurance Index: +1.53% (10.8% YTD)
• Pension Index: +1.37% (18.93% YTD)
• Consumer Goods Index: +1.28% (6.54% YTD)
• Main Board Index: +0.9% (9.5% YTD)

Analysts noted that despite lower turnover, positive price movements in key blue-chip stocks contributed to the overall uplift in market indices, signaling investor confidence in the equities market as the first quarter progresses.