The Nigerian equities market extended its bullish run midweek, with the NGX All-Share Index (ASI) edging up by 0.08 per cent to close at 132,557.43 points. This slight uptick pushed the year-to-date (YTD) return to 28.79 per cent, reflecting sustained investor optimism and strengthening confidence in the resilience of the local bourse. As a result, market capitalisation increased by N66.8 billion, settling at N83.86 trillion, indicative of improved liquidity and heightened interest in fundamentally sound stocks.
Despite the overall market gain, investor sentiment remained mixed, with a slightly negative market breadth. 29 stocks recorded gains while 37 declined. This indicates a blend of strategic bargain hunting in certain counters and profit-taking activities in others. Top performers for the day included Academy (+10.00%), The Initiates Plc (TIP, +9.98%), Ikeja Hotel (+9.95%), Enamelware (+9.84%), and NAHCO (+9.65%). Conversely, major decliners were Austin Laz, Tripple G, Omatek, Daar Communications, and Multiverse.
Sectoral performance was broadly positive, driven by renewed investor interest across key segments. The Banking (+0.44%), Insurance (+0.13%), Consumer Goods (+0.30%), Oil & Gas (+0.21%), and Commodity (+0.07%) sectors all closed in the green. The Industrial Goods sector, however, bucked the trend, recording a decline of 0.62 per cent.
Notwithstanding the positive close, overall trading activity saw a slowdown. Total deals, volume, and value traded fell by 16.79 per cent, 10.67 per cent, and 35.61 per cent, respectively, compared to the previous day’s session. In total, investors exchanged 681.24 million shares worth N17.02 billion in 26,931 transactions. This compares to Tuesday’s 771.65 million shares valued at N26.78 billion across 32,734 deals. The dip in activity is attributed to a cautious approach from some investors, perhaps awaiting fresh catalysts or consolidating recent gains.
A closer look at the day’s trading reveals a concentrated volume with Access Holdings Plc emerging as the undisputed leader. The financial services giant saw 98.62 million shares traded on its floor, making it the top-traded equity by volume index. This significant volume underscores continued investor interest in one of Nigeria’s largest banking groups, reflecting confidence in its strategic direction and market position. The value of Access Holdings shares traded amounted to N2.74 billion across 1,575 deals, also making it the top-traded equity by value index.
Following Access Holdings in trading volume was Ellah Lakes Plc, which recorded 61.11 million shares valued at N581.60 million. This agribusiness firm’s high volume often indicates speculative interest or significant institutional positioning. Japaul Gold & Ventures Plc came in third by volume, with 49.16 million shares valued at N136.75 million. These three companies collectively accounted for a substantial portion of the day’s total traded volume.
The market capitalisation of the Nigerian Exchange Limited (NGX) experienced a gain of N66.86 billion, closing at N83.85 trillion on Wednesday, up from N83.78 trillion on Tuesday. Similarly, the All-Share Index (ASI) expanded by 105.7 basis points, moving from 132,451.73 ASI to 132,557.43 ASI.
According to analysts, this incremental but consistent growth underscores the underlying positive sentiment that has characterised the Nigerian equities market throughout much of 2025.
Among the day’s top performers, Academy Press Plc, The Initiates Plc (TIP), and Ikeja Hotel Plc each recorded a 10 per cent growth in their share prices. Academy Press closed at N7.70 per share, TIP at N13.34 per share, and Ikeja Hotel at N21.00 per share, showcasing strong investor appetite in these specific counters. Other notable gainers included Enamelware and NAHCO.
On the flipside, Austin Laz & Company, Tripple G, and Omatek Ventures Plc led the price decliners, each seeing their share prices dip by 10 per cent, 9.96 per cent, and 9.72 per cent respectively. Austin Laz closed at N2.34, Tripple G at N3.89, and Omatek at N1.30 per share. These declines reflect profit-taking or a reaction to specific company news, which contrasted with the broader market’s positive momentum.
Overall, despite the slight dip in trading activity and a mixed market breadth, the Nigerian equities market continues its upward trajectory. The strong performance of key sectors and the significant trading volumes in bellwether stocks like Access Holdings show that investor confidence remains positive, driven by underlying fundamentals and anticipation of sustained economic reforms.
