Nigeria’s stock market continued its positive momentum on Wednesday, climbing by 0.27 percent. The uptick was largely driven by increased investor interest in select equities, most notably Northern Nigeria Flour Mills (NNFM), which saw a significant price surge. This latest gain reflects sustained investor confidence despite recent market volatility.
NNFM led the chart of gainers, jumping from N118.70 to N130.55, a 9.98 percent increase. It was closely followed by Honeywell Flour Mills, which appreciated by 9.95 percent to reach N21. Other notable performers included University Press and Learn Africa, both recording 10 percent gains as investors showed strong appetite for publishing and education sector stocks.
The Nigerian Exchange (NGX) All-Share Index (ASI) rose from 111,606.22 points to 111,902.61 points, while the market capitalization expanded from N70.377 trillion to N70.564 trillion. This marks a steady recovery from earlier lows, suggesting a short-term bullish outlook for the market.
Among the most actively traded stocks were Japaul Gold, Fidelity Bank, Custodian Investment, GTCO, and FCMB Group. These high-volume trades highlight continued market activity across key sectors including banking, investment, and natural resources.
Overall, the market recorded 512.17 million shares traded in 16,711 deals, valued at N17.12 billion. The combination of strong gainers and high turnover reflects a robust trading session, reinforcing optimism among market participants amid economic uncertainties.
Source: Business day