The Nigerian Exchange Ltd. (NGX) experienced a strong rebound on Wednesday, recording a substantial gain of ₦507 billion after the previous day’s losses. This positive market shift bolstered investors’ portfolios significantly. The market capitalisation, which opened at ₦63.051 trillion, climbed by ₦507 billion or 0.80%, closing the day at ₦63.559 trillion. Simultaneously, the All-Share Index (ASI) advanced by 0.80% or 832 points, settling at 104,230.73 compared to the 103,398.82 reported on Tuesday. As a result, the Year-To-Date (YTD) return marginally improved to 0.127%. Key Drivers of the Market Surge The bullish momentum was fueled by increased buying interest in major stocks, including: Mixed Market Breadth Despite Gains Despite the notable gains, market breadth remained slightly negative, with 28 stocks declining while 27 advanced. Top Losers: Top Gainers: Trading Activity Decline Market activity slowed compared to the previous session, with a 31.99% drop in turnover. A total of 756.42 million shares valued at ₦24.69 billion were exchanged in 13,551 deals, compared to 1.11 billion shares worth ₦14.64 billion traded in 16,617 deals during the previous session. Top Trade Activity: READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
