July 8 (THEWILL) — The Nigerian Exchange (NGX) sustained its bullish momentum on Wednesday as renewed buying interest in large-cap and banking stocks lifted investors’ wealth by ₦3.45 trillion, with the benchmark All-Share Index (ASI) climbing above the 242,000-point mark.
Market capitalisation advanced from ₦152.135 trillion at the opening of trading to ₦155.585 trillion at the close, while the ASI rose by 5,376.70 points to settle at 242,459.98, up from 237,083.28 recorded at the previous session.
Investor sentiment remained positive as the market recorded 33 gainers against 23 losers, reflecting sustained buying activity despite pockets of profit-taking.
TOP 5 GAINERS FOR THE SESSION
TRANSEXPR gained 10.00 percent (N2.70 to N2.97).
AIRTELAFRI advanced 10.00 percent (N5,274.00 to N5,801.40).
FIDELITYBK appreciated 9.97 percent (N18.05 to N19.85).
THOMASWY rose 9.89 percent (N2.73 to N3.00).
ZICHIS climbed 9.69 percent (N26.62 to N29.20).
TOP 5 DECLINERS FOR THE SESSION
HMCALL shed 9.95 percent (N3.92 to N3.53).
MCNICHOLS declined 8.89 percent (N6.75 to N6.15).
TRANSCORP lost 5.65 percent (N42.45 to N40.05).
CWG fell 5.24 percent (N20.05 to N19.00).
VFDGROUP dropped 5.19 percent (N10.60 to N10.05).
Meanwhile, MTN Nigeria Communications Plc, FTN Cocoa Processors Plc, Custodian Investment Plc, Champion Breweries Plc, and Julius Berger Nigeria Plc, among others, closed flat for the session.
The strong performance reflects sustained investor confidence, with bargain hunting and renewed demand for fundamentally sound counters, particularly in the telecommunications and banking sectors, continuing to support the market’s upward trajectory despite selective profit-taking in a few medium-cap stocks.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
