The Nigerian equities market recorded a mixed trading session on Wednesday, with several stocks posting strong gains even as the broader NGX All-Share Index closed marginally lower.
TrippleG emerged as the best-performing stock of the session, rising by 10.00 per cent to close at N2.86 per share. The company was followed by Sovrenins, which gained 9.71 per cent to close at N2.26.
Oando also recorded a strong performance, advancing by 9.43 per cent to N38.30. NEM gained 7.99 per cent to close at N34.45, while Guineains rose by 6.85 per cent to N0.78.
Other stocks that recorded notable gains included RTBriscoe, Zichis, CMFC, DaarCommunications and FTNCocoa.
The positive movements in these stocks, however, were not enough to lift the overall market index, as significant losses in other counters exerted pressure on market performance.
The NGX All-Share Index fell by 0.03 per cent to 246,019.17 points, while market capitalisation declined by the same margin to N158.91 trillion.
The market’s year-to-date return stood at 58.10 per cent, indicating that investors continued to enjoy substantial gains despite the marginal daily decline.
NASCON recorded the largest loss of the session, falling by 10.00 per cent to N175.50. Betaglas declined by 9.99 per cent to N506.60, while Academy dropped by 9.76 per cent to N5.55.
CWG, Learnafrica and UPDCREIT also recorded losses of 9.35 per cent, 9.20 per cent and 6.30 per cent respectively.
The session was also characterised by reduced trading activity. Total volume fell by 34.47 per cent to 426.84 million units, while the value of transactions declined by 30.25 per cent to N28.44 billion.
AccessCorp was the most actively traded stock by volume, with 33.22 million units changing hands. Stanbic followed with 28.74 million units, while SterlingNG recorded 19.61 million units.
Aradel led the market by value, recording transactions worth N4.14 billion. Stanbic followed with N4.11 billion, while Dangcem and GTCO recorded N2.05 billion and N2.01 billion respectively.
The financial services sector dominated trading activity by volume, accounting for 248.52 million units. Consumer goods followed with 33.77 million units, while services recorded 31.63 million units.
Sectoral performance remained mixed. The insurance index recorded the strongest gain, rising by 2.72 per cent. Industrial goods advanced by 0.23 per cent, while oil and gas gained 0.26 per cent.
The banking sector declined by 0.59 per cent, while consumer goods fell by 0.21 per cent.
Market breadth remained positive, with 32 stocks advancing against 30 decliners. This indicates that the number of gainers was slightly higher than the number of losers, even though the market’s overall index closed in negative territory.
The performance of the gainers’ chart highlights continued investor interest in selected stocks, although the decline in trading volume suggests a more cautious approach among market participants.
