The Nigerian stock market gained N308 billion on Wednesday, driven by sustained buying interest in medium and large-capitalised stocks.Nigeria travel guide

The positive performance was supported by gains in Transcorp Power, Caverton Offshore Support Group, Etranzact, Haldane McCall and International Energy Insurance.

Market capitalisation increased by N308 billion, representing a 0.19 per cent rise, to close at N165.415 trillion from N165.107 trillion recorded on Tuesday.

Consequently, the market’s year-to-date return rose to 63.72 per cent.

Similarly, the All-Share Index advanced by 473.46 points, representing a 0.19 per cent increase, to close at 254,762.81 from 254,289.35 recorded in the previous session.

Market breadth closed positively, with 27 gainers against 23 losers.

Transcorp Power led the gainers’ chart, appreciating by 9.97 per cent to close at N203 per share.

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Caverton Offshore Support Group followed with a 9.84 per cent gain, settling at N3.35, while Etranzact advanced by 9.68 per cent to N17 per share.

Haldane McCall gained 7.36 per cent to close at N3.50, while International Energy Insurance appreciated by 7.27 per cent to N1.77 per share.

Conversely, Eternal led the losers’ chart, declining by 9.94 per cent to close at N38.50 per share.

Sovereign Trust Insurance shed 9.91 per cent to settle at N1.91, while Learn Africa declined by 9.84 per cent to N8.25 per share.

Cornerstone Insurance lost 9.30 per cent to close at N3.90, while Mutual Benefits Assurance fell by 6.85 per cent to N2.72 per share.

Trading activity strengthened, with volume increasing by 5.11 per cent to 552.31 million shares, valued at N37.46 billion across 33,047 deals.

First Holdco dominated trading volume, accounting for 125.21 million shares, representing 22.67 per cent of total transactions.

The shares were valued at N12.67 billion, representing 33.82 per cent of the day’s total traded value.

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